As someone in a similar situation, at much lower numbers, I can say this is likely primarily about tax optimization, with the optics being a nice side benefit.

As someone in a similar situation, at much lower numbers, I can say this is likely primarily about tax optimization, with the optics being a nice side benefit. If you're fairly liquid and decently bullish on your company, then holding off and taking your income later as capital gains makes a lot of sense. And as seen in the article, he can borrow against the shares to achieve as much liquidity as he wants/needs for his lifestyle without having to pay ordinary income taxes. I guess I'm impressed by Elon that he can get such puff from the NYT for some basic tax structuring.