Musk receives no salary from Tesla. His 170.5 million shares of Telsa were worth $208.3 billion as of the close of trading on Friday. At the price of $1,222.09 per share, 10 percent of them would be valued at $20.8 billion. With a long-term capital gains tax rate of 20% for someone in Musk's income bracket, a tax bill from the sale would approach $4.2 billion.
He has owned 80% of those 170.5 million Tesla shares since the company's initial public offering in 2010. In addition to the shares he owns currently, he has the option to buy another 73.5 million shares. It's not clear if those shares would be counted in his holdings if the Twitterverse convinces him to sell 10% of his stake in the company.
A
ProPublica investigation in June found Musk paid
no federal income taxes in 2018 — and in 2017 he paid only $65,000
As of Sunday, Musk is the richest man on Earth with a total net worth of $338 billion, according to the
Bloomberg Billionaires Index.
Elon Musk asked Twitter if he should sell some of his Tesla stock. Here's what the Twitterverse said - CNN