{"id":123231,"date":"2021-12-20T18:32:40","date_gmt":"2021-12-20T17:32:40","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=123231"},"modified":"2021-12-20T18:32:40","modified_gmt":"2021-12-20T17:32:40","slug":"elon-musk-ill-pay-over-11bn-in-taxes-this-year","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/12\/20\/elon-musk-ill-pay-over-11bn-in-taxes-this-year\/","title":{"rendered":"Elon Musk: I&#8217;ll pay over $11bn in taxes this year"},"content":{"rendered":"<p>The billionaire founder of Tesla Inc., Elon Musk has disclosed that he will be paying over $ 11 billion for taxes this year.<\/p>\n<p>This was disclosed by Musk in a tweet on Monday while<span data-preserver-spaces=\"true\">\u00a0confirming to the public his exact tax bills.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cFor those wondering, I will pay over $11 billion in taxes this year,\u201d Musk tweeted.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Due to massive bills on his Tesla stock options, Musk faces a hefty tax bill from the government \u2014 what market analysts said could be the biggest in US history.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Musk exercised almost 15 million options and sold millions of shares to cover the taxes related to these transactions, resulting in an unusually high <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/12\/13\/nigerians-should-expect-modest-increases-in-taxes-levies-zainab-ahmed\/\">tax levy<\/a>.<\/span><\/p>\n<p>Recall that Tesla sold about $5 billion worth of Tesla&#8217;s shares &#8211; just days after<span data-preserver-spaces=\"true\">\u00a0he polled Twitter users about selling 10 percent of his stake.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Additionally, he predicted that the tax rate would rise next year.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Musk\u2019s fortune is heavily reliant on Tesla \u2014 which topped $937 billion on Friday and SpaceX valued at 100 billion after a funding round some months ago.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Musk said he does not take a cash salary or bonus, so \u201cthe only way for me to pay taxes personally is to sell stock.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The billionaire founder of Tesla Inc., Elon Musk has disclosed that he will be paying over $ 11 billion for taxes this year. This was disclosed by Musk in a tweet on Monday while\u00a0confirming to the public his exact tax bills. \u201cFor those wondering, I will pay over $11 billion in taxes this year,\u201d Musk [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":116718,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[37],"tags":[25527,733,25528,17984],"class_list":["post-123231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-937-billion","tag-elon-musk","tag-market-analysts","tag-spacex"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Elon Musk: I&#039;ll pay over $11bn in taxes this year<\/title>\n<meta name=\"description\" content=\"The billionaire founder of Tesla Inc., Elon Musk has disclosed that he will be paying over $ 11 billion for taxes this year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/12\/20\/elon-musk-ill-pay-over-11bn-in-taxes-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon Musk: I&#039;ll pay over $11bn in taxes this year\" \/>\n<meta property=\"og:description\" content=\"The billionaire founder of Tesla Inc., Elon Musk has disclosed that he will be paying over $ 11 billion for taxes this year. This was disclosed by Musk in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/news\/2021\/12\/20\/elon-musk-ill-pay-over-11bn-in-taxes-this-year\/\" \/>\n<meta property=\"og:site_name\" content=\"NEWS PICKS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/withinnigeria\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/SodiqAdewaleChocomilo?mibextid=ZbWKwL\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-20T17:32:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.withinnigeria.com\/news\/wp-content\/uploads\/sites\/5\/2021\/12\/ify_davies\/2021\/12\/05\/Teslas-Elon-Musk.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"976\" \/>\n\t<meta property=\"og:image:height\" content=\"549\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sodiq Lawal Chocomilo\" \/>\n<meta name=\"twitter:card\" 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