The reason for him selling, from what I've read, is to pay the $15Billion in taxes on stock options that he had to exercise by August or they expire, meaning he gets nothing. The options are how he is paid, instead of salary. Once he exercised the options, he owes 54.1% in federal and local taxes. Still don't consider him as part of any elite club, even though he is the richest man in the world. I don't think he rubs elbows with them afaik. I've never seen him as a black hat or a white hat. Grey hat? https://www.cnbc.com/2021/11/07/elon-musk-faces-a-15-billion-tax-bill-which-is-likely-the-real-reason-hes-selling-stock.html
Yeah. In real estate, you can write off depreciation. I don't follow Musk's finances, but I don't see him as necessarily savy in terms of tax writeoffs or it isn't high on his list of concerns. He is so rich, billions are like thousands to normal people. He's also a billionaire who actually seems to have a strong work ethic and is extremely successful. He's also learned to milk the system over the years with government (aka my money) money. I guess I don't fault him for that either, if it is there for the taking.
The reason for him selling, from what I've read, is to pay the $15Billion in taxes on stock options that he had to exercise by August or they expire, meaning he gets nothing. The options are how he is paid, instead of salary. Once he exercised the options, he owes 54.1% in federal and local taxes. Still don't consider him as part of any elite club, even though he is the richest man in the world. I don't think he rubs elbows with them afaik. I've never seen him as a black hat or a white hat. Grey hat? https://www.cnbc.com/2021/11/07/elon-musk-faces-a-15-billion-tax-bill-which-is-likely-the-real-reason-hes-selling-stock.html
Yeah. In real estate, you can write off depreciation. I don't follow Musk's finances, but I don't see him as necessarily savy in terms of tax writeoffs or it isn't high on his list of concerns. He is so rich, billions are like thousands to normal people. He's also a billionaire who actually seems to have a strong work ethic and is extremely successful. He's also learned to milk the system over the years with government (aka my money) money. I guess I don't fault him for that either, if it is there for the taking.