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Nope, because he used a loan, so he was able to buy twitter and not pay taxes. He will have to pay taxes if and when he pays off the loan, maybe.
by jackmott42 3y ago
Nope, because he used a loan, so he was able to buy twitter and not pay taxes. He will have to pay taxes if and when he pays off the loan, maybe.
- samsolomon 3y agoI have a hard time believing that he didn't realize gains on the Tesla stock he sold to cover part of the purchase. Twitter, the company, took out a loan as part of the financing to help Musk close. That is why Twitter desperately needs to return a profit. Because it now has to service that loan. Those are different things. EDIT: For reference it looked like he originally was going to back the loan with Tesla shares—so he wouldn't have to sell. It looks like he abandoned that idea and sold about $15.5B shares of Tesla to finance the deal. Maybe that's where the confusion is from? https://www.aljazeera.com/economy/2022/10/28/how-elon-musk-financed-his-twitter-takeover https://www.aljazeera.com/economy/2022/10/28/how-elon-musk-f...