The ongoing Elon Twitter saga: "insert demographic" melts down

Status
Not open for further replies.
mattx4 said:
He donated ~5bn Tesla stock, which means he doesn't have to sell as much stock to pay tax and keeps control of the voting rights. Not like his own foundation is going to vote him off the board is it.
Click to expand...

But, again, that tax relief is just in relation to the donated stock, which can apply to anyone making a charity donation and he's still ultimately donated...

I doubt he's in danger of being voted off the board of Tesla at the moment anyway, it's kind of moot in comparison to the quantities of shares he's sold on to pay taxes, he currently owns like 13% of the company.

mattx4 said:
He also keeps access to the money and can use it to pursue his own interests in a charitable way
Click to expand...

That's what all charity donations ultimately are, I'm interested in helping Ukraine so I donate to Ukraine etc. Bill Gates is interested in funding scientific research and so, among other things, his foundation funds scientific research.
 
Last edited:
mattx4 said:
He donated ~5bn Tesla stock, which means he doesn't have to sell as much stock to pay tax and keeps control of the voting rights. Not like his own foundation is going to vote him off the board is it.

He also keeps access to the money and can use it to pursue his own interests in a charitable way

Edit-link below shows how little the stock donation probably cost
news.bloombergtax.com

Elon Musk’s $5.7 Billion Stock Gift Had Some Surprising Benefits

Elon Musk’s donation of 5 million shares of Tesla, worth $5.7 billion, will do a lot of good. But it’s also worth noting that Musk may have saved up to $4.6 billion in taxes, says DonateStock’s Steve Latham.
news.bloombergtax.com news.bloombergtax.com
Click to expand...

Exactly.
 
dowie said:
Beneficial how? He's not profiting from this AFAIK if he is then please explain how? Is there anything to suggest he doesn't pay his fair share of tax?

Any donations to charity by a tax payer can benefit from being pre-tax or indeed, in the UK, have gift aid applied if made post tax.
Click to expand...

You were the one claiming he was a humanitarian for giving money to charity. I simply pointed out it was advantageous to give money to his foundation as it lowered how much he had to pay in taxes and he keep control of that money and stocks. Its hardly humanitarian is it.

And the pledge means nothing. Plenty of people pledge all kinds of things. Actually seeing it through is something else.

You aren't doing a great job of knocking off the psychopath list.

And no, I have not claimed he is evil as Roar would like to claim, most psychopaths aren't evil, aren't murders, they do however have themselves at the centre of their universe and the greater good of humanity isn't on their list of priorities. It isn't on their list full stop.
 
Roar87 said:
interestingengineering.com

Elon Musk Could Become the Highest Tax Payer Ever in the US With $12 Billion

The billionaire ends 2021 with a great amount of tax bill.
interestingengineering.com interestingengineering.com

He pays $12bn in tax, but he isn't giving enough apparently. He basically paid for the USS Gerald R. Ford on his own!
Click to expand...

So the amount you pay shouldn't be linked to the amount you earn? Once you hit a certain figure that number should be frozen and you shouldn't pay any more tax regardless of what you earn. That is what you are saying.
 
Colonel_Klinck said:
You were the one claiming he was a humanitarian for giving money to charity. I simply pointed out it was advantageous to give money to his foundation as it lowered how much he had to pay in taxes and he keep control of that money and stocks. Its hardly humanitarian is it.
Click to expand...

Why isn't it humanitarian and how is it advantageous *for him*? It's advantageous for the charity/foundation if anything.

Charity donations can lower the amount any taxpayer pays in taxes... because the donation itself lowers the amount you earn, that's not something that benefits the person donating financially! They still made the actual donation! How are you not following that point? If you donate to charity too you'll lower the amount of tax you'll have paid by simply selecting the gift aid option, you still have to make the donation, you don't gain anything financially yourself.

Colonel_Klinck said:
You aren't doing a great job of knocking off the psychopath list.
Click to expand...

Donating to charity, investing in companies that aim to further humanity and pledging more than half his worth to charity...

You've made a dubious claim re: a psychological diagnosis and you're still making a dubious claim re: the tax write-off stuff that you still refuse to clarify.
 
Last edited:
dLockers said:
I am going to donate to dLockers charitable trust inc. No shens.
Click to expand...

You're free to do so, but, of course, if you don't actually run it as a charity then the charity commission may well want to have a word with you about that!

You don't need to be a billionaire to either set up your own charity or indeed to donate to charity in general and reduce your tax liability.
 
Last edited:
dowie said:
You're free to do so, but, of course, if you don't actually run it as a charity then the charity commission may well want to have a word with you about that!

You don't need to be a billionaire to either set up your own charity or indeed to donate to charity in general and reduce your tax liability.
Click to expand...
Right, but now imagine I AM a billionaire and there is a lot of cash in there, and everyone is as amiable as you.
 
mattx4 said:
Well the good thing for Elon now is the next time his Tesla options mature he doesn't have to mess around donating to his private foundation he can just realize some Twitter losses plenty of tax offset there
Click to expand...

What's that claim based on? Whether or not he makes a loss also depends on the strike price. Does he even have any tranches of options left from the 2018 compensation deal?
 
Last edited:
dowie said:
Why isn't it humanitarian and how is it advantageous *for him*? It's advantageous for the charity/foundation if anything.

Charity donations can lower the amount any taxpayer pays in taxes... because the donation itself lowers the amount you earn, that's not something that benefits the person donating financially! They still made the actual donation! How are you not following that point? If you donate to charity too you'll lower the amount of tax you'll have paid by simply selecting the gift aid option, you still have to make the donation, you don't gain anything financially yourself.



Donating to charity, investing in companies that aim to further humanity and pledging more than half his worth to charity...

You've made a dubious claim re: a psychological diagnosis and you're still making a dubious claim re: the tax write-off stuff that you still refuse to clarify.
Click to expand...

Wow you still don't get how it works. Oh well I can only explain it so many times.
 
Status
Not open for further replies.
Back
Top Bottom