---
title: "Michael Saylor Settles $40 Million Tax Evasion Lawsuit with Washington, D.C."
url: https://thecoingazette.com/michael-saylor-settles-40-million-tax-evasion-lawsuit-with-washington-d-c/
date: 2024-07-03
modified: 2024-07-03
author: "Coin Gazette Editorial"
description: "Billionaire Michael J. Saylor, co-founder of MicroStrategy, has recently made headlines for reaching a historic settlement with the District of Columbia (D.C.). The settlement resolves a tax evasion lawsuit filed..."
categories:
  - "News"
  - "Regulations"
tags:
  - "ceo"
  - "doj"
  - "Micheal Saylor"
  - "Microstrategy"
  - "tax evasion"
word_count: 238
---

# Michael Saylor Settles $40 Million Tax Evasion Lawsuit with Washington, D.C.

Billionaire Michael J. Saylor, co-founder of MicroStrategy, has recently made headlines for reaching a historic settlement with the District of Columbia (D.C.). The settlement resolves a tax evasion lawsuit filed by the D.C. Office of the Attorney General, alleging that Saylor evaded over $25 million in income taxes. Let’s delve into the details of this high-profile case.

Michael J. Saylor, a well-known figure in the crypto and tech industry, co-founded MicroStrategy, a business intelligence company. He gained further prominence for his bullish stance on Bitcoin and MicroStrategy’s significant investments in the cryptocurrency.

## Recent Investments

Recently, one of MicroStrategy’s recent big purchases was made in March 2024, with the firm buying 12,000 BTC through an $800-million convertible note offering. This strategic move further solidifies MicroStrategy’s position as a major holder of Bitcoin.

https://twitter.com/saylor/status/1767158870294605904?s=61

## The Allegations

- **False Residency Claim**: Saylor’s primary alleged offense was falsely claiming residency in Florida while maintaining his actual residence in D.C. This allowed him to avoid D.C.'s income tax obligations.

- **MicroStrategy’s Role**: The lawsuit also implicated MicroStrategy, suggesting that the company conspired to assist Saylor in evading income taxes within the District.

## The Settlement

Saylor and MicroStrategy agreed to pay a staggering $40 million to settle the lawsuit. This sum represents the largest income tax recovery settlement in D.C.'s history.

The settlement underscores the importance of holding even high-net-worth individuals accountable for tax obligations. It sends a message that no one is above the law.