Thus his claim is that he is "paying more tax" than he is required to.
Obviously, that is NOT true. What is true, is that he believes increases in capital gains tax rates are coming, so he is exercising and selling on the option tranches that hold the MOST gain, so that those largest gains will be "safe" -- from a future increase in tax rates. [He will get "Tangerine-Era" cap gains and income tax rates.] Sheesh -- that's. . . positively Orwellian rhetoric from Elon, indeed.
Secondly, choosing to sell those tranches is. . . a choice. And he ought to pay taxes, based on what the rules and statutes say right now, not what would be... optimal (see my earlier suggestions).
Finally, if he was serious about paying his fair share, AND protecting the unaffiliated shareholder base, he might do the things I've suggested repeatedly here (reprice and extend the options, for example).
Alternatively, if he faced a real, active board of directors, they would offer him an ultimatum -- do the reprice -- to protect all shareholders, or we will let you... just hold a founder/tech advisor role -- and install a more responsible steward, for the shareholders. And then, Elon might just move on... to founding other private company ventures -- where his immaturity wouldn't cost shareholders $157 billion in a week.
More than that, actually -- because he disclosed he sold another tranche late on Friday night.
Onward, grinning, just the same. The company could be using its tax loss carry-forwards to protect the public shareholders, as early as Monday morning -- if the board would only. . . act.
नमस्ते
No comments:
Post a Comment