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Elon Musk's tax bill, BNP Paribas to sell BMO, Youtube TV ends Disney blackout, ‘Spiderman’ success

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Tesla CEO Elon Musk says he will pay $11 billion in taxes this year, BNP Paribas to sell U.S. unit BMO to Bank of Montreal, Youtube TV ends Disney blackout, and ‘Spiderman’ smashes pandemic box office records. Yahoo Finance’s Julie Hyman breaks down the latest national headlines.

Video Transcript

JULIE HYMAN: Well, we now know the total for Elon Musk and what he's going to be paying in taxes this year for those wondering. It's $11 billion, he said in a tweet, of course. Last week, Senator Elizabeth Warren went after Musk on Twitter saying he should pay taxes and quote, "stop freeloading off of everyone else," to which Musk responded he'll pay more in taxes this year than any American in history, which makes sense considering he has more money than any American in history. He's currently the world's richest person with Tesla worth about a trillion dollars, over the past month. He has sold over $14 billion worth of Tesla shares in order to help pay those taxes.

BNP Paribas announced it's going to sell Bank of the West to Bank of Montreal for $16.3 billion. That makes it one of the largest recent bank deals. The all-cash deal would allow Bank of Montreal, or BMO as we also know it, to expand in the United States. Combined, the banks would have about $870 million in assets. The deal is set to close in 2022.

And speaking of deals, Disney-owned channels, including ESPN, FX, and ABC are returning to Youtube TV just in time for Monday Night Football. The deal between Disney and YouTube was announced two days after the channels were pulled from YouTube. The terms of the deal were not disclosed, but Google did say the price of YouTube TV would stay at 64.99 a month with the Disney renewal and it would grant 15 credits to users that it promised when the network went dark on Friday night after failing to reach a deal.

And saving Hollywood maybe for now, "Spider-Man-- No Way Home," webbed up a record-setting $250 million at the box office this weekend. The movie brought in more than any other since the COVID-19 pandemic. The domestic debut is the third highest of all time behind only "Avengers-- Endgame" and "Avengers-- Infinity War." Overseas audiences added $334 million, making the global gross total for the movie $587 million, the third highest on record, although it was still pretty far behind those other two pre-pandemic.