Elizabeth Warren last week criticized ‘Times’ magazine for choosing Musk as “the man of the year,” to which the mogul responded with a statement.
The businessman Elon Musk, the richest man in the world, has revealed on his Twitter account that will have to pay more than 11,000 million of dollars in taxes in 2021 after selling about $ 14 billion in shares of the automaker Tesla this year.
Musk, that is esteemed he is the richest man in the world with 244,000 million dollars, he revealed in a tweet launched on Sunday night that he will pay “more than 11,000 million dollars in taxes this year.”
When Sen. Elizabeth Warren last week criticized the magazine “Times” For choosing Musk as “man of the year,” the businessman replied to Democratic politics with a tweet:
This year I will pay more taxes than any American in history.
In early November, Musk consulted his 62.5 million followers on Twitter on whether he should sell 10% of his shares.
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“There has been a lot of talk about unrealized profits as a way to avoid paying taxes so I propose to sell the 10% of my shares in Tesla. Do you support it? ”Musk asked.
The result of the survey conducted by Musk was a majority of “Yes” so the businessman proceeded to sell $ 14 billion in stock of the company.
On Twitter, Elon Musk asks if he should sell 10% of his shares in Tesla and says he will respect the poll result
Musk conducted the survey before a series of company stock options that he received in 2012 as payment for his position as CEO at Tesla expired in August 2022. If I had waited for 2022, Musk would have had to pay a higher amount in taxes.
According to specialized media, Musk finances his lifestyle with loans you get using your Tesla shares as collateral, allowing you to reduce your tax payments.
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This year, the journalistic organization ProPublica published a report in which it said that Musk paid $ 455 million in taxes between 2014 and 2018 despite the fact that its assets increased in that period to 13.9 billion dollars.
And in 2018, the businessman did not pay federal taxes.
In 2020, Musk already changed his official residence from Los Angeles, where he had lived for the past 20 years, to Austin, Texas. Change of residence allowed Musk to significantly reduce the taxes you pay.
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And in October, Musk said he would move Tesla’s headquarters from Palo Alto, California, to Austin, Texas and justified the decision due to the high cost of life in the Californian town. (I)
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