For some time, Elon Musk has been in the media discussion about how much tax he should pay.
Tesla Chief Elon Musk has said that he will pay tax of more than $ 11 billion or about Rs 82,500 crore this year. Musk had exercised 15 million options. After this, he sold his old lakhs of shares so that he could pay the tax on these transactions. However, they do not have to pay any tax on the purchase of the option. The tax paid by Elon Musk is equal to the current personal net worth of Bharti Airtel owner Sunil Mittal. According to the Bloomberg Billionaires Index, Sunil Mittal’s net worth is Rs 82,500 crore.
Elon Musk said, will pay the highest tax this year
For some time, Elon Musk has been in the media discussion about how much tax he should pay. Recently, Democratic Senator Elizabeth Warren tweeted that Allen should no longer try to avoid paying taxes. After declaring Musk as Person of the Year by Time magazine, Warren said that the old tax code should be changed so that people like Musk can not avoid paying tax. Later replying to this tweet, Musk said that this year he will pay the highest tax. No one would have paid so much tax before in the history of America.
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Musk uses stock options to buy Tesla shares
Earlier this week, Elon Musk sold 583,611 shares of Tesla for $528 million. Recently, he had conducted a poll on Twitter, in which it was asked whether he should sell his ten percent stake in Tesla. Since then he started selling its shares. Along with this, Musk has been using stock options to buy new shares of Tesla. As long as Elon Musk continues to buy shares with this option, he will not have to pay any tax on it. This block of options will expire in August 2022.
(Article : Harshita Tyagi)
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