Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has disclosed how a lot he would pay in taxes this yr.
What Occurred: The entrepreneur stated on Twitter Sunday that his tax invoice for this yr is a whopping $11 billion.
Musk has offered shares of Tesla since early November to foot his tax invoice.
Till mid-December, Musk had sold 12.7 million Tesla shares. The CEO just isn’t paid a wage however is as a substitute compensated by the way in which of inventory choices. He has additionally exercised practically 15 million choices.
Musk, who was named “Particular person of the Yr” by Time Journal for 2021, has seen his reputation rise as that of traditional institutions declines, in response to Time editor-in-chief Edward Felsenthal.
“I believe the role of the government ought to be that of a referee however not a participant on the sector. Authorities shouldn’t impede progress,” stated Musk earlier within the month.
The web price of Musk has burgeoned to $243 billion in 2021, a year-to-date improve of $87.4 billion, in response to the Bloomberg Billionaire’s Index. He’s positioned on the highest of that checklist — above the likes of Amazon.com Inc founder Jeff Bezos and Microsoft Company (NASDAQ: MSFT) co-founder Invoice Gates.
See Additionally: How To Buy Tesla (TSLA) Shares
Why It Issues: Not too long ago, Musk lobbed an insult at Warren after she referred to as him a “freeloader.” The senator referred to as for a change to the “rigged tax code” in order that the “Particular person of the Yr will truly pay taxes.”
Musk’s disclosure received the eye of Twitter fairly rapidly. Dogecoin (CRYPTO: DOGE) co-creator Billy Markus commented on the social media platform that Musk has paid “actually greater than anybody has ever paid in historical past.”
Markus’ remark in flip received a response from Musk, who responded with a ROFL emoji.
Value Motion: On Friday, Tesla shares closed practically 0.6% larger at $932.57 within the common session and fell 0.11% within the after-hours session.
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Picture: Courtesy of Elon Musk through Flickr