If Elon Musk Walks Away From Twitter, It Could Save Him $400 Million in Taxes

August 26, 2022

The potential purchase of social-media platform Twitter by Tesla CEO Elon Musk is at risk, according to a Washington Post report. Twitter stock (ticker: TWTR) was down 3.9%, at $ 37.27, in Friday trading, following The Washington Post report. Musk has some potential tax liabilities coming up for 2022 activity and might be able to fully utilize a tax break. Musk sold about $8.5 billion worth of Tesla stock back in April, presumably to fund part of the potential Twitter purchase. The potential Twitter purchase has been quite a saga.