Elon Musk Says in Twitter, He Would Pay $11 Billion in Taxes This Year

Elon Musk, CEO of Tesla said on Twitter that he will pay more than $11 billion in taxes this year, an amount that could constitute a record payment to the U.S. Internal Revenue.

According to Bloomberg News, Elon will face tax bill of more than $10 billion for 2021 if he exercises his options due to expire next year.

The high tax amount comes as Elon exercised about 15 million options and millions of shares to cover for taxes related to those transactions. Earlier following a Twitter poll last month Elon pledged to sell 10% of this stake in Tesla which stock surged more than 2,300% over the past five years, according to Bloomberg.