Elon Musk. Picture: Patrick Pleul/Reuters
Elon Musk. Picture: Patrick Pleul/Reuters

Ask the twitterati

Elon Musk has asked Twitter users to decide if he should sell more than $20bn worth of his Tesla shares and pay tax — and the online crowd responded with a resounding "yes".

Musk’s apparent willingness to cash in a tenth of his stock and incur a tax bill of more than $4bn follows a proposal in the US that billionaires should pay tax on their unrealised capital gain.

Last month, Musk tweeted: "Eventually, they run out of other people’s money and then they come for you."

Financial Times

A DELICATE MOMENT: Fed watchers say the uncertainty over its chief raises the spectre of financial volatility at a delicate moment for the US economy as it recovers from the pandemic and contends higher inflation. Picture: Bloomberg/T.J Kirkpatrick
A DELICATE MOMENT: Fed watchers say the uncertainty over its chief raises the spectre of financial volatility at a delicate moment for the US economy as it recovers from the pandemic and contends higher inflation. Picture: Bloomberg/T.J Kirkpatrick

To go or not to go

Press conferences after US central bank meetings rarely stray from the state of the economy and how monetary policy should be fine-tuned. But for Jay Powell, his past two gatherings have featured probing questions about his fate at the helm of the institution. With just three months until Powell’s term expires, the window is narrowing for Joe Biden’s administration to decide if it will renominate him or opt for new leadership.

Financial Times

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