Musk noted that he does not ask for a salary or bonus anywhere. “I only own stock, so the only way to personally pay taxes is to sell stock.”
And that’s right, as is apparent from this well thought-out explanation: Musk himself has no cash; he lives on loans for which he pledges his shares as collateral. But because he acquired those shares as an employee, they are not simply taxed. If he sells them, he can still be taxed on them.
The 10 percent shares that Musk wants to market are currently worth about $ 21 billion. By selling this package of shares, the price of Tesla shares may come under pressure, because a lot of shares suddenly come onto the market.
Tesla is currently the most valuable car company in the world. Musk also has stakes in other companies, such as neurotechnology company Neuralink and space company SpaceX. His net worth is estimated at 338 billion dollars (more than 292 billion euros).
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