The billionaire may face a tax bill of more than $10 billion for 2021 if he exercises all his options due to expire next year, calculations last week by Bloomberg News showed.
Elon Musk, the world’s richest person and chief executive officer of Tesla Inc., said on Twitter that he’ll pay more than $11 billion in taxes this year, an amount that could constitute a record payment to the U. S. Internal Revenue Service. The billionaire may face a tax bill of more than $10 billion for 2021 if he exercises all his options due to expire next year, calculations last week by Bloomberg News showed.
The unusually high levy comes after Elon Musk Musk exercised almost 15 million options and sold millions of shares to cover the taxes related to those transactions. That was following a Twitter poll last month when he asked followers whether he should sell 10% of his stake in the electric carmaker, whose shares have rocketed more than 2,300% over the past five years.
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