The Economic Times News

Too many digits: Elon Musk says he paid so much in taxes one year that it broke the IRS computer

Elon Musk, the world's richest person, pays taxes that vary significantly. His wealth is primarily in company stock, not salary. Large tax bills arise when this 'paper wealth' becomes actual income. For instance, he paid substantial taxes in 2021 after selling Tesla stock. This dynamic reflects modern billionaire finances where tax obligations can be sudden and immense.