Billionaire Michael Saylor pays DC $40 million in city's largest tax-evasion settlement

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Billionaire Michael Saylor pays DC $40 million in city’s largest tax-evasion settlement

Jeff Clabaugh | [e-mail]
June 3, 2024, 8:58 AM



MIAMI, FLORIDA - APRIL 7: Michael Saylor, Chairman & CEO, MicroStrategy, speaks during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida. The world’s largest bitcoin conference runs from April 6-9, expecting over 30,000 people in attendance and over 7 million live stream viewers worldwide.(Photo by Marco Bello/Getty Images)(Getty Images/Marco Bello)

Michael Saylor and Tysons, Virginia-based MicroStrategy, the company he co-founded, will pay $40 million to resolve a tax fraud lawsuit filed by the D.C. Office of the Attorney General two years ago.

The suit, brought by former D.C. Attorney General Karl Racine in 2022, alleged Saylor illegally evaded more than $25 million in District taxes over the course of 15 years by claiming to be a Florida resident, despite residing full-time in a 7,000-square-foot penthouse on the Georgetown waterfront. … Florida has no personal income tax.

The suit also accused Saylor of docking multiple yachts on the District’s Potomac riverfront since 2005.

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A copy of the settlement is online.

Jeff Clabaugh
Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.
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