Elon Musk says he will pay more than $11 billion in taxes this year
Last week, Musk claimed that he will"pay more taxes than any American in history this year" in response to Elizabeth Warren's tweet that he was"freeloading off everyone else." has exercised a large number of Tesla share options this year and must pay tax on the difference between the exercise price and fair market value of the shares — which are up about 30% year-to-date. He has in turn sold large chunks of Tesla shares to meet the tax obligation.
The billionaire's massive tax bill this year comes after years of legally paying very little compared to his wealth. A
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