Tesla CEO Elon Musk Will Pay More Than $11 Billion In Taxes This Year


US electric car maker Tesla’s chief executive officer, Elon Musk, has said on Twitter that he will pay more than $11 billion (about Rs 83,690 crore) in taxes this year.

Earlier this week, Democratic Senator Elizabeth Warren said in a post on Twitter that Musk had been advised to pay taxes.

Musk responded by saying that he would pay more taxes this year than any other American. The market value of Tesla’s company Tesla, the world’s richest person, is about one trillion dollars (Rs 76,01,160 crore). In the past few weeks, Musk has sold shares of Tesla worth about $ 14 billion (about Rs 1,06,342 crore). Time magazine has named him this year’s “Person of the Year”.

Tesla’s growth this year has been much higher than other global brands. Its brand value has grown significantly to reach $36.27 billion. Tesla has entered the world’s 20 most valuable brands for the first time. Along with this, Musk’s wealth has also increased rapidly. Tesla is the only brand to achieve three-digit growth this year. In second place is Sephora, which has a growth of only 37 percent. Tesla’s car sales are competing with other global automobile companies in some countries like the US and China. Tesla plans to start business in the Indian market as well. It has demanded the central government to reduce the import duty.

However, Tesla is also facing controversies. A company investor has filed a legal case against Tesla over posts on social media, including a poll on Twitter, about the sale of Musk’s stake. Tesla investor David Wagner has sought access to company documents to investigate whether Tesla and Musk violated agreements with the US securities regulator and whether the company’s board members were able to fulfill their statutory responsibilities. have failed.

(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)

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