Elon Musk says he will pay over $11 billion in taxes this year, more than any American in history

Axel Springer Elon Musk

While Elon Musk continues to get lambasted by politicians for being a “billionaire freeloader”, the CEO confirmed on Sunday just how much he will pay in taxes this year.

A few days after saying his 2021 tax bill will be more than any American in history, Musk revealed he will be pay more than $11 billion in taxes this year.

To give you an idea of just how large this tax bill is, it is more than if Musk had been paying taxes on a $1 billion per year salary for the last 10 years, as noted by Rob Maurer of the Tesla Daily podcast.

The large tax bill is the result of Musk selling 10% of his Tesla (TSLA) shares after asking his Twitter followers if they support such a move. Nearly 58% said he should.

As of his most recent sale on December 16, Musk is about two thirds of the way through of selling 10% of his stake in the company.

About Darryn John 3687 Articles
Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca