this post was submitted on 19 Apr 2025
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In 2023, Elon Musk paid $11 billion in income taxes, which was one of the largest individual tax bills in history.
Which is more than 2,5% of his total wealth.
In 2021, Elon Musk paid a significant amount in taxes, with estimates ranging from $8.3 billion to $12 billion, making it one of the largest individual tax payments in U.S. history. This substantial tax bill was primarily due to Musk exercising stock options that were set to expire, which triggered a large taxable income event.
Blablabla. Basically, believe it or not. 2,5% isn't that big of a deal
I also read there was a year he paid $0, but even if he payed on average 2.5% yoy, that might relatively be a lot less than what someone working minimum pays on wealth (or in their case just income) tax.
In the US, people making minimum wage pay $0 in income tax in almost all states.