Elon Musk Explains Why His Wealth Is “Not a Deep Mystery”

Posted:

December 23, 2021 22:46 GMT

“I have no offshore accounts and no tax shelters,” the billionaire stressed, noting that calculating and processing his tax payment would only take a few hours.

In an interview with Babylon bee Posted this Wednesday on YouTube, Tesla and SpaceX CEO Elon Musk asserted that his fortune is “not a deep mystery,” so much so that the taxes he has to pay are so simple that he can calculate everything in “a few hours.”

“I have no offshore accounts, no tax havens,” the American billionaire stressed. When asked if H&R Block tax preparation could calculate its taxes, Musk said, “H&R Block can easily do my taxes. But I don’t need H&R Block, I can do it myself. It’ll take a few hours.” My taxes are very basic“.

The businessman explained that his fortune is based on owning shares in Tesla and SpaceX, and admitted that it is “huge” painful and difficult“Get the level of capital you have now.

With regard to tax obligations, it is important to remember that US taxpayers pay tax on their direct income, while they only pay taxes on shares they own if they are sold. Musk, who has no salary and no cash bonuses, hasn’t disposed of a large number of securities until this year, so Previously She didn’t have much of a burden. And so the billionaire specified in the interview that in 2018 he did not even pay taxes, because he paid in 2017 “By mistakeThe rest.

However, the situation is different this year. After asking his Twitter followers in November if he should sell the 10% Musk Started Getting His Tesla Bonds And He Got Yes Fulfillment of the promise gradually. in the interview Sure They sold enough shares of the electric car maker to complete their plan.

On December 20, he wrote on Twitter that he would pay More than 11 billion dollars The US Treasury, more than any other citizen in history. The entrepreneur is obligated to do so in order to receive compensation in excess of $23,000 million in stock options, which will expire in August of the following year. CNBC.