Money & The Economy

Elon Musk Reveals How Much He Will Pay In Taxes

Elon Musk, chief executive of Tesla and the world’s richest man, revealed Sunday approximately how much he would pay in taxes this year.

“For those wondering, I will pay over $11 billion in taxes this year,” Musk posted on Twitter late Sunday. The tech billionaire could face a payment as large as $10 billion if he decides to exercise stock options that are scheduled to expire in August 2022, among the largest payments in history to the IRS, Bloomberg reported.

Musk has a net worth of around $240 billion as of Monday, making him the richest person in the world, according to Forbes’ Real-Time Billionaires List.

Tesla did not immediately respond to the Daily Caller News Foundation’s request for comment.

Musk sparred with Democratic Massachusetts Sen. Elizabeth Warren on Dec. 13 after Warren tweeted that Musk takes advantage of the U.S. tax code and accused him of “freeloading.”

Musk responded by telling Warren to “stop projecting,” citing the Senator’s previous claims about having Native American heritage.

“You remind me of when I was a kid and my friend’s angry Mom would just randomly yell at everyone for no reason,” Musk said in a separate tweet.

“Please don’t call the manager on me, Senator Karen,” Musk added.

Time magazine named Musk its “Person of the Year” for 2021 on Dec. 13.

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