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Elon Musk's Fortune Plunges By $50bn In Two Days

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Elon Musk's Fortune Plunges By $50bn In Two Days

Elon Musk's fortune has reportedly plunged by a whopping $50bn (£37bn) in just two days.

The huge loss off cash comes after his Twitter poll asking his followers if he should sell 10 percent of his shares in Tesla, as per The Independent.

On 6 November, Musk Tweeted: "Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?"

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The final results saw 57.9 percent of people saying he should flog the 10 percent of his stock, compared to the 42.1 percent who said he shouldn't.

In a follow-up tweet, Musk had also promised to 'abide by' the public poll, whatever the results were.

"I will abide by the results of this poll, whichever way it goes," he said, adding: "Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock."

Despite the loss, he is still the richest man in the world, it must be said.

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Earlier this month, the 50-year-old said he would sell Tesla stock if the UN can prove the money can 'solve world hunger'.

The tech billionaire hit back at comments made by the director of the World Food Programme last week, which urged him to do something to make a difference.

Speaking to CNN, David Beasley called on Musk and Jeff Bezos (the second richest person on the planet) to reconsider where they are putting their money.

David Beasley urged Musk to talk to him, saying his money could save over 40 million lives. Credit: Alamy
David Beasley urged Musk to talk to him, saying his money could save over 40 million lives. Credit: Alamy
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He said: "$6 billion to help 42 million people that are literally going to die if we don't reach them. It's not complicated."

Well, as he usually does, Musk took to Twitter to call out the UN official.

He wrote: "If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it.

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"But it must be open source accounting, so the public sees precisely how the money is spent."

Replying to Musk's tweets, Beasley wrote: "I can assure you that we have the systems in place for transparency and open source accounting. Your team can review and work with us to be totally confident of such.

"Let's talk: It isn't as complicated as Falcon Heavy, but too much at stake to not at least have a conversation.

"I can be on the next flight to you.

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"Throw me out if you don't like what you hear!"

Musk ended their chat with: "Please publish your current & proposed spending in detail so people can see exactly where money goes."

Featured Image Credit: Alamy

Topics: tesla, elon musk

Anish Vij
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