Elon Musk Says He’ll Pay Over $11 Billion USD in Taxes This Year

Elon Musk on Monday said that he’d pay over $11 billion USD in taxes this year as section of a valuable Tesla stock selloff.

For those wondering, I pays over $11 billion in taxes this year

— Elon Musk (@elonmusk) December 20, 2021

Musk previously requested his nearly 63 million followers whether or no longer he can non-public to promote 10% of his stake in Tesla to pay taxes, with a majority voting in decide of the switch. “I will abide by the outcomes of this poll, whichever intention it goes,” Musk promised, alongside side that his earnings as CEO of Tesla come in in the accomplish of stocks.

CNBC experiences that Musk has already paid $7 billion USD in stock sales and says that he pays a entire of $12 billion USD for 2021. CNBC’s Robert Frank means that Musk’s tax invoice “is a really necessary in history.”

Whereas Musk’s tax invoice could well perchance appear excessive, Musk is believed about to be the richest particular person in the arena and has a bag price of about $236 billion USD as of December 20. Unexcited, ProPublica unprejudiced no longer too long ago reviewed IRS records and reported that Musk paid $455 USD million in taxes in the final four years and paid nothing in 2018.

In other data, Elon Musk became as soon as named Time Magazine‘s Particular person of the Year.

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