Tesla’s Elon Musk will pay $11 Billion tax in 2021, highest ever in US history

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New Delhi: This year, Tesla CEO and world’s richest person Elon Musk will become the highest taxpayer in the history of United States (USA). He will pay taxes of $11 billion.

This high tax bill is due to the fact that Musk exercised approximately 15 million options and sold millions of shares to cover taxes related to those transactions.

This came close to Musk conducting a poll on Twitter, where he asked his followers if he should sell his 10% stake in Tesla.

Tesla has fallen nearly a quarter since then and the company’s market cap is back at the bottom $1 trillion mark. This is $937 billion.

Responding to allegations of underpayment of taxes commensurate with his income, he previously stated that he does not take a salary from SpaceX or Tesla, and pays an effective tax rate of 53% on the stock options he exercises. Huh.

First Published:December 20, 2021, 3:43 pm

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