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Benzinga
Benzinga
Business
Wayne Duggan

Why Can Billionaires Avoid Taxes On Stocks But Use Them As Collateral For Loans?

Trevor Noah Elon Musk United States Tesla Inc.

"Daily Show" host Trevor Noah recently criticized the tax laws that allow billionaire Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk to borrow money tax-free using his Tesla shares as collateral to fund his $44 billion proposed buyout of Twitter Inc (NYSE:TWTR).

Noah argued there's a contradiction to the idea that unrealized gains in stock holdings are not eligible to be taxed but can be used as collateral, seemingly providing billionaires such as Musk access to unrealized stock gains tax-free.

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