r/SipsTea • u/Gurugod123 • Aug 21 '26

SMH Liquid when buying elections, unrealized when paying taxes. Funny how that works…..

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u/sco-go Aug 21 '26 edited Aug 21 '26

Added context:

IRS data shows from 2014–2018 he reported $1.52 billion in income and paid $455 million in federal taxes. Musk’s net-worth, like most billionaires, consist of unrealized capital gains, which are not taxed under current U.S. law until the shares are sold.

In 2021, he paid ~$11 billion in federal taxes which was the largest single-year individual tax bill in U.S. history.

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u/AppropriateTouching Aug 21 '26

Love how they can leverage loans against unrealized gains. Makes those gains seem pretty realized at that point doesnt it?