Elon Musk announces on his Twitter account that he will pay over $11 billion in taxes in 2021.
The Tesla CEO has been criticized by numerous people including the politicians, for invading taxes. Musk has had fingers pointed at him for not paying the required taxes as compared to the profits of his companies.
Apart from Tesla, Musk is also the founder of The Boring Company and SpaceX. Additionally, he had also founded PayPal earlier.
Elon Musk Will Pay $11 Billion As Taxes This Year
On 20th December, Musk posted a tweet saying, “For those wondering, I will pay over $11 billion in taxes this year.”
It appeared Musk was answering a question numerous people had one mind. This is because, he started his sentence with, “For these wondering..”
For those wondering, I will pay over $11 billion in taxes this year
— Elon Musk (@elonmusk) December 20, 2021
What happened after this? Twitter was quick to respond. His post had some people doubting if he’d really pay and others thinking if he pay the tax he will utilize it in a better way than the government.
In between the years 2014 and 2018, as per CNBC Elon Musk’s wealth grew by $13.9 billion over a period. In this period, he paid $455 million in taxes on $1.52 billion of income.
There’s no surety if this is actually another hit on the US senator Elizabeth Warren. The US senator had posted, “Let’s change the rigged tax code so The Person of the Year will actually pay taxes and stop freeloading off everyone else.”
Let’s change the rigged tax code so The Person of the Year will actually pay taxes and stop freeloading off everyone else. https://t.co/jqQxL9Run6
— Elizabeth Warren (@SenWarren) December 13, 2021
Elon Musk’s companies are working on projects which are a class apart. From spaceships, outer space to self-driven cars. He recently met the President of Turkey, Recep Tayyip Erdogan. Both discussed space, satellites, and space technology.