July 15, 2024

AndronETalksNews

AndronETalksNews

Elon Musk faces a $15 billion tax bill, which is likely the real reason he’s selling stock

CNBC

By Robert Frank – November 7, 2021

Tesla CEO Elon Musk faces a tax bill of more than $15 billion in the coming months on stock options, making a sale of his Tesla stock this year likely regardless of the Twitter vote.

Musk asked his 62.7 million Twitter followers over the weekend whether he should sell 10% of his Tesla holdings. “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,” he tweeted.

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