Including stock options, Mr Musk owns a 23 per cent stake in Tesla, the world's most valuable car company whose market value recently exceeded $US1 trillion .Mr Musk has previously said he would have to exercise a large number of options in the next three months, which would create a big tax bill.Last month, Tesla relocated its headquarters from California to Texas, a move experts say will lead to a reduced tax bill because Texas has no income tax.
Mr Musk has criticised the proposal, saying, "Eventually they run out of other peoples' money and then they come for you". US Senate Finance Committee Chairman Ron Wyden, who floated the tax proposal, responded to the poll saying, "Whether or not the world's wealthiest man pays any taxes at all shouldn't depend on the results of a Twitter poll".Mr Musk's brother, Kimbal Musk, last week sold 88,500 Tesla shares, becoming the latest board member to offload a large number of Tesla stocks, which hit record highs.
Got a fair way to go if only sold 33 million yesterday
They could double in value before he has to pay
Obviously knows how to play the market - ask yourself what’s in it for him and you’ll see that he’s worked out a loophole that will fill his pockets even more than they currently are.
Gotta love an eccentric genius. 😉
The ABC really likes the money in other people's pockets, looking at the taxpayers' pockets in Australia and now the rich of the world. But they never look at what they have done for the taxpayers when they have taken the taxpayers' money?
...not really. He knows there'll be a crash in Tesla stocks.