Elon Musk Expected to Pay More Than $11 Billion in Taxes by 2021

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Tesla CEO Elon Musk said he will pay more than $11 billion in taxes to the US government in 2021 – the equivalent of more than BRL 63 billion at the price of the day. The statement was given by him on his Twitter profile, this Sunday (19).

The publication of the tweet took place a few days after the discussion between the businessman and the US senator, Elizabeth Warren, through messages exchanged on the social network. In the online clash, she accused the billionaire, voted “Person of the Year” by Time magazine, of paying low taxes.

This estimated amount is similar to calculations made by CNBC last week. According to the broadcaster, SpaceX’s CEO has paid more than $7 billion in state and federal taxes over 2021 to date, and is expected to pay an additional $5 billion by January 1, 2022.

If the numbers are correct, the amounts paid by Musk through the end of the year could represent the largest tax collection ever in the US, according to the publication. The amount also means a considerable increase over its tax debt of the last four, which was “only” $455 million.

Keeping an eye on billionaires

Besides Musk, currently the richest person in the world, other billionaires have been the target of many questions about the taxes paid. A survey released by the ProPublica network in the middle of this year showed that the owners of the greatest American fortunes pay very low amounts compared to their own fortunes.

Investor Warren Buffett and Amazon founder Jeff Bezos are some of those named. On occasion, they even paid zero tax, as did the Tesla leader in 2018 — at the time, Musk said he was exempt from being charged for having paid more than he owed a year earlier.