Rivian Automotive Inc (RIVN): Actually, Musk is selling his holdings o...

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John-Knee

Re: Dell_Griffith post# 340

Wednesday, 11/17/2021 1:56:01 PM

Wednesday, November 17, 2021 1:56:01 PM

Actually, Musk is selling his holdings on two counts; sell now vs next year when the taxes change and he will end up paying more on the gains. On the other front, he needs several billions on hand to cover the taxes he will be owing for this year. At the end of the day, Musk will have another round of new stock options next year that will pretty much cover the ones he exercised now. I don't think Musk is scared but smart on getting around on paying additional taxes. After all, this is what the wealthy people do, pay less taxes. They don't just accept.... they act.

When Musk moves to Texas next year, he won't be paying any taxes, as the state income taxes is zero.

I use both Fundamental and Technical Analysis.
Opinions posted by me are just that, my opinion.
Buy/sell any type of financial security is the sole
decision of the individual. Make your own sound
judgement or consult a professional licensed
advisor.