As CNBC reported, Musk’s tax bill will be close to $12 billion. And you can bet he’s happy to pay it.
Elon Musk faces a hefty tax bill this year — possibly the biggest in U.S. history.
“For those wondering, I will pay over $11 billion in taxes this year,” the Tesla CEO tweeted on Monday.
That’s close to a CNBC estimate that Musk was set to pay a total of $12 billion in taxes in 2021.
Musk has sold off $14 billion worth of Tesla stock since early November, after asking his followers in a Twitter poll if he should sell 10% of his holdings. The response to that poll was a resounding “yes.”
But it’s likely Musk would have begun selling anyway. That’s because he faces a massive tax bill on Tesla stock options.
That’s close to a CNBC estimate that Musk was set to pay a total of $12 billion in taxes in 2021.
Musk has sold off $14 billion worth of Tesla stock since early November, after asking his followers in a Twitter poll if he should sell 10% of his holdings. The response to that poll was a resounding “yes.”
But it’s likely Musk would have begun selling anyway. That’s because he faces a massive tax bill on Tesla stock options.
Keep in mind, this is only Musk’s portion of a tax bill. There are many more investors who now must pay Uncle Sugar.
Having made a bit of money on Tesla, I can tell you that I got hit with a tax bill this year after selling some of my stock. How much more tax revenue do you think Tesla generated?
Billions. But count on Democrats to have amnesia as they continue their “tax the rich” policies.
I have no problem paying my fair share. And if I were fortunate enough to make billions like Musk, I would happily write that tax check. But only if these sanctimonious Leftist sh*ts would shut their mouths.
Recall when Zuckerberg’s partner gave up his citizenship to avoid paying millions in taxes? The article reported:
For most immigrants, the day they achieve U.S. citizenship is one of the most momentous in their lives. It’s a long, arduous process to get there, involving years of residency, study of our nation’s history, and the swearing an oath of allegiance. It’s an honor that many would-be Americans have given up their lives for. But for 30-year-old Facebook co-founder Eduardo Saverin, U.S. citizenship has its price: Rather than pay his fair share of taxes on the upcoming Facebook IPO, Saverin has renounced his U.S. citizenship to save some money.
Did anybody complain? And what is Zuckerberg doing to hide his tax debt? Motley Fool discussed how Facebook avoided paying taxes:
Story continues at: Musk Taxes
