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Musk apparently makes $0 in salary, so what we are talking about is the tax involved in exercising his ISO shares that I believe are worth in the area of $140 B
by uberman 6y ago
Musk apparently makes $0 in salary, so what we are talking about is the tax involved in exercising his ISO shares that I believe are worth in the area of $140 Billion.
https://www.bloomberg.com/billionaires/profiles/elon-r-musk/?sref=GYlFC92K https://www.bloomberg.com/billionaires/profiles/elon-r-musk/...
If realized as long term gains, that would be taxed at
Federally (20%) : $28 Billion
CA (13.3%) : 18.62 Billion
or
TX (0%) : 0 Billion
I love California, but I would move to Texas for $18.62 Billion.
Note that there are fewer than 100 people in the entire world who have more money/wealth than Musk's potential CA tax bill.
https://www.forbes.com/real-time-billionaires/#19efc38a3d78 https://www.forbes.com/real-time-billionaires/#19efc38a3d78
Having said that, I should also note that I am no fan of Musk. I just wanted to show how much money is potentially at stake.
- fortran77 6y agoI'd move to Texas for only $1 Billion!
- bitxbitxbitcoin 6y agoHe has probably been planning to avoid that tax bill for years. I think the only question in his mind was ever: Nevada or Texas?