A ProPublica report back in June found that many billionaires such as Musk and Jeff Bezos pay little to no federal taxes using completely legal means. Musk reportedly avoided paying any federal income tax in 2018 while handing over just $68,000 in 2015 and $65,000 in 2017. And despite his wealth growing by $13.9 billion between 2014 and 2018, he reported $1.52 billion in income and paid $455 million in taxes.
Musk’s low tax payments have drawn plenty of criticism and were highlighted by many when he became Time’s person of the year last week, but he’s responded with a tweet that reads, “For those wondering, I will pay over $11 billion in taxes this year.”
