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Elon Musk has stated that he will pay $11 billion in taxes.

After all, the world’s richest man will pay his due share of taxes.

“For those interested, I will pay over $11 billion in taxes this year,” Tesla CEO Elon Musk tweeted Monday.

The revelation follows his disagreement with Sen. Elizabeth Warren (D-Mass.) last week when she chastised the billionaire for “freeloading” by not paying taxes while she and other lawmakers contemplated changes to the tax code.

The change might force Musk and other tech titans to pay billions of dollars in unrecognized stock gains.

“Let’s alter the corrupt tax code so The Person of the Year pays taxes and stops leeching on everyone else,” Warren tweeted, along with a link to a story about Musk being chosen Time Magazine’s 2021 person of the year.

Musk requested his 63 million Twitter followers in November whether he should sell 10% of his Tesla stock, and he did so when a majority of voters voted yes.

He has sold $14 billion in Tesla stock since early November – and would have done so regardless of his followers’ advice since he anticipates a large $15 billion tax bill when his 2012 stock options expire in August 2022.

For those who are curious, I will pay more than $11 billion in taxes this year.
December 20, 2021 — Elon Musk (@elonmusk)

Musk, 50, is not paid by the electric car firm he established. His fortune is derived through stock awards and increases in Tesla’s share price.

Warren and other liberal members of Congress have singled out Musk, Jeff Bezos, Mark Zuckerberg,, and other tech titans for a prospective wealth tax, which has ruffled Musk’s feathers.

Last week, he responded to Warren’s tweet by labeling her a “angry mom” and “Senator Karen,” prompting MSNBC host Joy Reid to join the fray.

When Elon Musk’s 2012 stock options expire in August 2022, he will face a hefty $15 billion tax bill.

“You remind me of when I was a kid and my friend’s irate mother would just suddenly rant at everyone for no reason,” Musk wrote on Twitter.

About the author

Akanksha Jain

Akanksha Jain love to learn new stuff every day. With a background in computer science and a passion for writing, she loves writing for Startup, Business sections of Editorials99.

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