According to the Bloomberg Billionaires Index, Musk’s wealth is $338 billion. About a quarter of them are Tesla stock options that he can freely exercise at any time. These securities come from two big awards he won in 2012 and 2018. The old contract will expire in August next year.
“Whether the richest person in the world pays any taxes shouldn’t depend on the results of a Twitter poll at all,” Democratic Senator Ron Wyden of Oregon wrote in a tweet on Saturday. “It’s time to impose a billionaire income tax.”
If he exercises all options now and immediately sells the stock, his net worth before tax is 95.9 billion U.S. dollars.
Musk may be suggesting that the liquidity he wants exceeds the cash he obtains by borrowing his shares in the electric car manufacturer.Last week, he suggested that if the United Nations can prove that $6 billion can help, he will sell some shares Alleviate world hungerFor many years, Musk has stated that he will be the last person to sell shares, and often increases his position when Tesla raises funds from Wall Street to prevent his shares from being diluted.
Tax situation
Musk moved to Texas at the end of 2020, where there is no state personal income tax. But as Tesla’s market value soared and his personal wealth soared, Musk has become a symbol of rising inequality-he seems to be very sensitive to this. He is one of the billionaires mentioned in Pro Publica’s investigation of how the super-rich tax avoidance, and has become the target of members of Congress who promote the taxation of billionaires.
On his way to becoming the world’s richest man, Musk has cultivated millionaires among some of his fans, employees, and other investors—even at least a billionaire.Among them is Leo KoGuan, a Singaporean retail investor and business owner, who has used his already considerable wealth to accumulate more than $7 billion In Tesla stock.
Count KoGuan among those Twitter fans, and they said it’s time for Musk to take some money from the automaker, even if it’s just for Musk’s other companies exploring space and neural networks. “From a political and tax perspective, given that Elon is short of cash, he has no choice but to sell his shares to pay taxes and have a lot of cash,” KoGuan Post November 6.
-With the assistance of Anders Melin and Nick Baker.
