Elon Musk will sell 10% of Tesla stock after Twitter vote

Elon Musk, the billionaire chief executive and co-founder of Tesla, will sell $21 billion of stock in the electric car maker, according to his Twitter account.

On Saturday, Mr Musk asked his 62.7 million followers on Twitter whether they supported him selling 10 per cent of his stock.

Mr Musk held about 170.5 million shares in Tesla as of June 30. Selling 10 per cent would result in proceeds of about $21bn, based on Friday's closing price. The company had a market value of $1.21 trillion as of Friday. It's share price is up more than 67 per cent year-to-date.

“Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10 per cent of my Tesla stock,” he wrote. “Do you support this?"

Most Twitter users who responded did support it. More than 3.5 million people voted in the poll, with nearly 58 per cent voting in favour of Mr Musk selling his stock.

He later Tweeted that he would “abide by the results, whichever way it goes".

Mr Musk was calling into question the Democrats' “billionaires' tax”, which seeks contributions from America's most affluent by taxing their “tradable assets".

The proposed tax would help to fund US President Joe Biden’s ambitious social policy and climate change legislation.

It would only affect about 700 people, of whom Mr Musk would certainly be one.

According to Forbes, he is worth more than $300bn, making him the wealthiest person in the world.

Ron Wyden, a US senator from Oregon and chairman of the Senate finance committee, was the architect of the “Billionaires tax”.

“Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll,” Mr Wyden tweeted. “It’s time for the billionaires' income tax.”

The tech billionaire has been a vocal critic of the bill. He tweeted he would rather use his wealth to help get “humanity to Mars and preserve the light of consciousness” than give it to the US government through taxes.

Mr Musk has also been in a heated debate with David Beasley, head of the World Food Programme, who challenged billionaires to end world hunger by giving just 0.36 per cent of their wealth in one-time donations.

Mr Musk pledged on Twitter to sell $6bn in Tesla stock and donate it to the WFP, provided the organisation disclosed more information about how it spends its money.

Why are asylum seekers being housed in hotels?

The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.

A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.

Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.

The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.

When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.

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AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street

The seven points are:

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Dhafeer Street

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Salama bint Butti Street

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On Women's Day

Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action

Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?

Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'

The National Editorial: Is there much to celebrate on International Women's Day 2021?

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

Juvenile arthritis

Along with doctors, families and teachers can help pick up cases of arthritis in children.
Most types of childhood arthritis are known as juvenile idiopathic arthritis. JIA causes pain and inflammation in one or more joints for at least six weeks.
Dr Betina Rogalski said "The younger the child the more difficult it into pick up the symptoms. If the child is small, it may just be a bit grumpy or pull its leg a way or not feel like walking,” she said.
According to The National Institute of Arthritis and Musculoskeletal and Skin Diseases in US, the most common symptoms of juvenile arthritis are joint swelling, pain, and stiffness that doesn’t go away. Usually it affects the knees, hands, and feet, and it’s worse in the morning or after a nap.
Limping in the morning because of a stiff knee, excessive clumsiness, having a high fever and skin rash are other symptoms. Children may also have swelling in lymph nodes in the neck and other parts of the body.
Arthritis in children can cause eye inflammation and growth problems and can cause bones and joints to grow unevenly.
In the UK, about 15,000 children and young people are affected by arthritis.