record:-elon-musk-will-finally-pay-more-than-$-11-billion-in-taxes-–-money

Record: Elon Musk will finally pay more than $ 11 billion in taxes – Money

Elon Musk | Source: Getty Images

Tesla CEO Elon Musk said on Sunday that he would pay more than 000 billions of dollars in taxes this year, a statement that follows the billionaire’s previous claim that he would pay more in taxes than “Every American in history” this year.

Main facts Sunday, late in the day, Elon Musk tweeted, “For those wondering, I will pay more than 11 billions of dollars in taxes this year ”. Last week, Forbes estimated that Elon Musk probably owed the federal government at least $ 8.3 billion for 2021. At 13 December, the billionaire had sold for almost 13 billion dollars of Tesla shares this year, as the market cap of the electric vehicle maker exceeded 1 billions of dollars.

Large number

244, $ 2 billion. This is Elon Musk’s estimated current net worth as of Monday, according to , which currently makes him the richest person in the world. Amazon founder Jeff Bezos is in second place, close to 13 billion dollars behind Elon Musk’s net worth.

The background

Last week the billionaire quarreled with Senator Elizabeth Warren on Twitter after she accused him of not paying enough taxes. Elizabeth Warren has called for changes to the country’s “rigged tax code” so that Elon Musk “actually pays taxes and stops profiting from others.” The CEO of Tesla immediately hit back by declaring that he would pay “more taxes than any American in history” this year. Elon Musk’s scrutiny of tax payments follows his constant criticism of the Democrats’ plan to raise taxes for wealthy Americans. According to a ProPublica survey released in June, Elon Musk has paid little to no income tax in recent years. Between and 2018, the eccentric billionaire paid a total of 455 millions of dollars federal income taxes, even as his personal wealth increased by more than 12 billions of dollars. In 2014, Elon Musk paid no income tax, according to the report.

Article translated from Forbes US – Author: Siladitya Ray

Also to be read: $ 8 billion, that’s what Elon Musk owes the US tax authorities!