Elon Musk Paid at Least $593 Million in Taxes in 2016
Tesla has disclosed that its Chief Executive Officer Elon Musk paid at least $593 million in income taxes in 2016. He incurred the task after exercising his stock options that were set to expire at end of 2016. When the stock option is exercised, the holder must pay income taxes on the gain between the strike price and price on exercise date.
“Elon Musk’s gain on the stock options was $1.34 billion.”
Elon Musk’s gain on the stock options was $1.34 billion. According to the Bloomberg Billionaires Index. he has a net worth of about $12.9 billion, with most of it in Tesla’s stock.
Related Reports: Bloomberg
Tesla was founded in 2003 by a group of engineers in Silicon Valley who wanted to prove that electric cars could be better than gasoline-powered cars. With instant torque, incredible power, and zero emissions, Tesla’s products would be cars without compromise. Each new generation would be increasingly affordable, helping the company work towards its mission: to accelerate the world’s transition to sustainable energy.
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