Elon Musk’s exercise of an unusually large number of options is boosting his claim that he’ll pay more taxes this year than any other American in history, as he spars with Senator Elizabeth Warren over wealth inequality.
The world’s richest person and chief executive officer of Tesla Inc. could face a tax bill of more than $10 billion for 2021, if he exercises all his options due to expire next year, according to Bloomberg calculations. While it’s hard to say whether that would be a record -- the Internal Revenue Service doesn’t publicly reveal individual tax filings -- it would certainly rank as one of the biggest payments of all time.
