Musk says he's paying more than $11 billion in taxes and hopes to get some political bigwigs off his back for a while.
The CEO ofTesla put his cards on the table this weekend. I will pay over $11 billion in taxes this year. He doesn't specify where the tax money will be pulled from, but it's a large chunk of change.
Senator Elizabeth Warren has been trying to get EM to pay his fair share in taxes, as well as coasting on profits from the huge pile of stock and other assets he holds onto.
Since he has a lot of stock options that are set to expire in August, he was expected to pay a tax bill of at least 15 billion dollars.
It's possible that Congress will come down heavy on billionaires under Biden's agenda.
If he did it to get ahead of the curve, his $11 billion lump sum will be one of the largest tax payments in U.S. history. We suppose that counts.
The website, tms.com.
It's possible that Sen. Warren was the one who wanted to get off his back about not paying taxes.
If you asked Warren, she would likely say she wants billionaires to pay big taxes to come under the rules of the law.
Musk's net worth is estimated to be $244 billion, making him the richest person in the world. $11 billion is a small ding in the armor.