3 hours agoElon Musk will pay $11 billion in taxes this year
Periskopi(4 years ago)
(4 years ago)Elon Musk, the world's richest man, announced on Twitter that he will pay $11 billion in taxes this year, the BBC reports today. Musk was involved in a public debate on social networks, rather than paying taxes. Democrat Senator Elizabeth Warren told Musk on Twitter this week that it should stop “exploitation [...]
Musk was involved in a public debate on social networks, rather than paying taxes.
Democrat Senator Elizabeth Warren told Musk on Twitter this week that it should stop “exploitation of people”. Mousk countered: “For those who are interested, I will pay more than $11 billion this year, more than any American in history”.
Musk, founder of Tesla and SpaceX, became the richest man in the world this year. Bloomberg billionaires' index estimates that Musk is worth 243 billion dollars, Tesla is worth about $1 trillion and SpaceX $100 billion.
Musk was named The Person of the Year by Time last week. President Joe Biden wants to increase the loss of the ultra-rich, but the law is stuck in Congress. Some senators, including Warren, supported not only the taxation of wealthier Americans' salaries, but other assets, such as shares.
Many millionaires don't get a taxable salary directly, but they keep their property in stock form, so they take credit by giving away shares as collateral.
