ELON muskThe world’s richest man and Tesla CEO said on Twitter that he would pay more than $11 billion in taxes this year, an amount that could constitute a record payment. US Internal Revenue Service,
The billionaire could face a tax bill of more than $10 billion for 2021 if he exercises all of his options due to expire next year, calculated last week. bloomberg news is shown. The unusually high levy comes after Musk exercised approximately 15 million options and sold millions of shares to cover taxes related to those transactions.
He was following a Twitter poll last month when he asked followers whether he should sell his 10% stake in the electric car maker, whose shares have risen more than 2,300% over the past five years. Since the unusual move of asking Twitter users about the plan, Tesla has fallen by nearly a quarter and the company’s market value has dropped below the $1 trillion mark to $937 billion. a report by publica In June, Musk said that Musk paid very little income tax relative to his outside assets.
But he pushed back against that feature, saying he doesn’t take a salary from SpaceX or Tesla, and pays an effective tax rate of 53% on the stock options he exercises. He said he expects the tax rate to increase next year. Musk said earlier this month that he would pay more taxes this year than any American in history. That was in response to another tweet Massachusetts Senator who used Time magazine ‘Person of the Year’ praise to ask Musk to exclude him on his taxes
The billionaire could face a tax bill of more than $10 billion for 2021 if he exercises all of his options due to expire next year, calculated last week. bloomberg news is shown. The unusually high levy comes after Musk exercised approximately 15 million options and sold millions of shares to cover taxes related to those transactions.
He was following a Twitter poll last month when he asked followers whether he should sell his 10% stake in the electric car maker, whose shares have risen more than 2,300% over the past five years. Since the unusual move of asking Twitter users about the plan, Tesla has fallen by nearly a quarter and the company’s market value has dropped below the $1 trillion mark to $937 billion. a report by publica In June, Musk said that Musk paid very little income tax relative to his outside assets.
But he pushed back against that feature, saying he doesn’t take a salary from SpaceX or Tesla, and pays an effective tax rate of 53% on the stock options he exercises. He said he expects the tax rate to increase next year. Musk said earlier this month that he would pay more taxes this year than any American in history. That was in response to another tweet Massachusetts Senator who used Time magazine ‘Person of the Year’ praise to ask Musk to exclude him on his taxes
,