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Tesla CEO Elon Musk on Sunday said that he will pay more than $11 billion in taxes this year, a statement that follows the billionaire’s earlier claim that he will pay more taxes than “any American in history” this year. Read More: https://www.forbes.com/sites/siladityaray/2021/12/20/elon-musk-claims-he-will-pay-more-than-11-billion-in-taxes-this-year/?sh=57c8fd3a4675&utm_source=FBPAGE&utm_medium=social&utm_campaign=forbes | Forbes
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In 2021, Elon Musk made history by paying around $10–11 billion in taxes, the largest single-year payment ever made by an individual. The enormous figure came from Musk exercising roughly 23 million Tesla stock options that were granted to him in 2012 and set to expire that year. Exercising those options counted as income, instantly generating a massive tax liability under U.S. law. To cover it, he sold billions of dollars worth of Tesla shares — a move that briefly rattled global markets. What
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