Theres this interesting thing called borrowing. So yea most of his money is just tied up in stock and isn’t “real”, but since it’s an asset he can borrow against it. You see if you sell your stock you have to pay capital gains tax so instead of selling your stock just borrow against it because you don’t pay tax on borrowed money. Using company name, technically it will be owned by musk but since its through company name, maybe won’t be taxed I think this is why shutting down Twitter would be a great thing. It would enforce critical thinking and get rid of the Biden Fetterman 2024 It’s A No Brainer Political Humor Quote Vote Election 2024 T-Shirt Besides,I will do this echo chambers………like this sub. A quick google shows that Musk is set to pay 11 billion dollars for taxes in 2021. I mean it took two seconds to find that out. But hey don’t let me stop the circle jerk. He made nice presentation for the bank and from those ~43 billions he borrowed 25 billions. Imagine being 25 billions in debt after decade of almost bankrupting your multiple companies which are revolutionazing multiple industries.
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It is real money, when he sells his shares for cash to fund the Biden Fetterman 2024 It’s A No Brainer Political Humor Quote Vote Election 2024 T-Shirt Besides,I will do this Twitter purchase hé Will be taxed on capital gains. I work directly under a multimillionaire who received stimulus checks and laughed about it. Wealthy people have amazing accountants who exploit any and all loopholes and an entirely different set of rules, unfortunately. Because taxes are paid on income not wealth. You can argue that should change, but the way it currently works isn’t rocket science. Hell, I’d expect that the process of him liquidating enough assets to buy Twitter will trigger a taxable event worth more than the combined taxes of everyone that posts on Reddit today, though he’ll probably find a way to offset a fair amount of it. I swear, it only takes minimal effort to find the answer to this. This is not one of the universes greatest secrets.