Elon Musk Says He’ll Pay Over $11 Billion in Taxes This Year

High levy comes as Musk exercises millions in stock options
Tesla’s CEO enters home stretch on plan to sell 10% of holding

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By Katrina Nicholas

December 20, 2021 at 3:19 AM UTC

Updated on

December 20, 2021 at 9:29 AM UTC

This article is for subscribers only.

Elon Musk, the world’s richest person and chief executive officer of Tesla Inc., said on Twitter that he’ll pay more than $11 billion in taxes this year, an amount that could constitute a record payment to the U.S. Internal Revenue Service.

The billionaire may face a tax bill of more than $10 billion for 2021 if he exercises all his options due to expire next year, calculations last week by Bloomberg News showed.