Elon Musk says his tax bill this year will be $11 billion, and he's probably right: The filings he has made with the Securities and Exchange Commission about his recent stock trades back up that massive number.
Musk revealed the $11 billion total in a tweet Sunday that was otherwise short on details.This is not significantly different from what he had tweeted last week when, in the midst of a Twitter war with Sen. Elizabeth Warren, he said he'd pay the largest individual tax bill in history this year.That would be a massive change from some recent years.
As part of the process of exercising the options, Musk has been selling a portion of the newly acquired shares to cover the withholding tax due on the trades, according to his filings. Those sales so far have totaled 7.5 million shares, bringing in $7.8 billion so far, including the exercise price. In addition to the sales of shares he acquired exercising options, he's also sold some 5.
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