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

Possibly the largest tax bill in history.

Tech 
25,082 Hypes 21 Comments

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

Musk previously asked his nearly 63 million followers whether or not he should sell 10% of his stake in Tesla to pay taxes, with a majority voting in favor of the move. “I will abide by the results of this poll, whichever way it goes,” Musk promised, adding that his earnings as CEO of Tesla come in the form of stocks.

CNBC reports that Musk has already paid $7 billion USD in stock sales and says that he will pay a total of $12 billion USD for 2021. CNBC’s Robert Frank suggests that Musk’s tax bill “is the largest in history.”

While Musk’s tax bill may seem high, Musk is considered to be the richest person in the world and has a net worth of about $236 billion USD as of December 20. Still, ProPublica recently reviewed IRS data and reported that Musk paid $455 USD million in taxes in the last four years and paid nothing in 2018.

In other news, Elon Musk was named Time Magazine‘s Person of the Year.

Read Full Article

What to Read Next

Elon Musk Has Donated Over $5.7 Billion USD in Tesla Shares to Charity
Tech

Elon Musk Has Donated Over $5.7 Billion USD in Tesla Shares to Charity

The amount totaled to 5,044,000 shares in November 2021.

Mike Tyson Says He'll Fight Jake Paul for $1 Billion USD
Sports

Mike Tyson Says He'll Fight Jake Paul for $1 Billion USD

“I ain’t got no f*cking money.”

Elon Musk Says Tesla's Optimus Robot Could Begin Production in 2023
Tech

Elon Musk Says Tesla's Optimus Robot Could Begin Production in 2023

A humanoid bot designed to perform tasks too dangerous or boring for man.


Twitter Is Reportedly Reconsidering Elon Musk's $43 Billion USD Offer
Tech 

Twitter Is Reportedly Reconsidering Elon Musk's $43 Billion USD Offer

Potentially making a decision as early as Thursday.

'Pokémon GO's First Community Day of 2022 Brings on Spheal
Gaming

'Pokémon GO's First Community Day of 2022 Brings on Spheal

Coming in January.

NIGO Reveals Features for Upcoming 'I Know NIGO' Album
Music

NIGO Reveals Features for Upcoming 'I Know NIGO' Album

Announcing the return of the Teriyaki Boyz.

Calbee Releases Its Own Potato-Growing Kits
Food & Beverage

Calbee Releases Its Own Potato-Growing Kits

The famed Japanese potato chip company is spotlighting its most coveted ingredient.

Christie's Has Sold $150 Million USD Worth of NFTs in 2021
NFT

Christie's Has Sold $150 Million USD Worth of NFTs in 2021

Including a lot of nine CryptoPunks that totaled $16.9 million USD.

'My Hero Academia' Creator Says Manga Will End Soon
Entertainment

'My Hero Academia' Creator Says Manga Will End Soon

Revealed at this year’s Jump Festa event.


Mac DeMarco Delivers Somber Cover of “I’ll Be Home for Christmas”
Music

Mac DeMarco Delivers Somber Cover of “I’ll Be Home for Christmas”

Released with a visual that sees a walking Christmas tree find its home.

Keanu Reeves Confirms He Has Met With Marvel Boss Kevin Feige
Entertainment

Keanu Reeves Confirms He Has Met With Marvel Boss Kevin Feige

Potentially joining his ‘Matrix’ co-star Carrie-Anne Moss in yet another franchise.

HYPEBAE and P.F. Candle Co. Come Together for an Exclusive Scent Bundle
Design

HYPEBAE and P.F. Candle Co. Come Together for an Exclusive Scent Bundle

Freshen up your home with “Teakwood & Tobacco.”

Leaked Images of New adidas YEEZY FOAM RNNR Surface
Footwear

Leaked Images of New adidas YEEZY FOAM RNNR Surface

Another futuristic footwear take.

Feng Chen Wang Drops Black 3-in-1 UGG Sandal With Metal Buckles
Footwear

Feng Chen Wang Drops Black 3-in-1 UGG Sandal With Metal Buckles

Wear them as snow boots, indoors boot liner or summer sandals.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.