According to media, Elon Musk sold a bunch of stock to made a supply of money to his deal with Twitter.
Musk sold Tesla shares for more than 100 times what he paid for them and got $8.5 billion. And he got a huge tax discount because IRS cares only what the shares were worth when he bought and sold them. It is not important for IRS how much Musk initially paid for the stock.
Future Musk taxes will be reduced by $400-700 million. This is a huge tax loss and sounds like cheating, but it’s totally legal. How it’s possible – read in CNN Business.
Read also: Elon Musk wants to buy Coca-Cola to 'put the cocaine back'.