Elon Musk is the richest man on the planet, or off the planet for that matter. Sitting on top of the Forbes’ top ten:
- Elon Musk (SpaceX, Tesla) $237B
- Jeff Bezos (Amazon) $193B
- Bernard Arnault and family (Louis Vuitton) $190B
- Bill Gates (Microsoft) $135B
- Larry Ellison (Oracle) $122B
- Larry Page (Google) $121B
- Sergey Brin (Google) $117B
- Mark Zuckerberg (Facebook) $117B
- Warren Buffett (Berkshire Hathaway) $105B
- Steve Ballmer (Microsoft) $102B
According to CNBC, Musk will pay $12B in federal income taxes in 2021, yet he has been criticized for not paying taxes.
The reason Musk is paying such an enormous tax bill is because he is exercising management stock options.
Musk doesn’t draw a cash salary from his companies. His compensation is in the form of stock options. (He also has huge ownership interests in his companies.)
Normally, hired managers are compensated with a mix of cash…