Ilon Musk, who was recently named Time magazine’s man of the year, tweeted that he would pay $11 billion in taxes. Previously, the billionaire was accused of evading their payment. Bloomberg reports that Musk will pay such a huge sum after he used almost 15 million options and sold Tesla shares, buying them at $6 and immediately selling them at the market price. At the time of writing the news, 1 Acacia is worth $932. Tesla stock sale Last month, Musk set up a poll among his Twitter followers – the billionaire asked if he should sell Tesla shares to pay taxes.

Most followers said “yes” and Musk started selling off the stock. To fulfill his promise to sell 10% of his Tesla shares, Musk needs to sell about 17 million shares, or about 1.7% of Tesla’s outstanding securities. He has currently sold more than 5% of the securities. Against the background of the sale, the capitalization of Tesla fell to $ 937 billion from $ 1 trillion. About the accusation of non-payment of taxes The story with the payment of taxes began after the publication of the edition ProPublica material about billionaires (in particular mentioned and the owner of Tesla and SpaceX), paying small taxes in relation to their wealth. Musk denied the accusations, emphasizing that he receives no salary from either SpaceX or Tesla, but pays an effective tax rate of 53% of stock options. The billionaire also said in response to Sen. Elizabeth Warren’s tweet that he will pay more taxes this year than any American in history.