Following Massachusetts Senator Elizabeth Warren's accusation that he is "the world's richest freeloader," Elon Musk has announced he will pay over US$11 billion in taxes for the rest of 2021.
Musk, the CEO of Tesla and SpaceX, reacted to Warren by declaring that he "will pay more taxes this year than any other American in history."
According to Bloomberg News calculations, it would also be the greatest single payment to the Internal Revenue Service in history.
According to The Daily Mail, Musk, who has a net worth of US$265 billion, "paid nothing" in federal income taxes in 2018 and under US$70,000 in 2015 and 2017.
Musk was named Time Magazine's Person of the Year after selling nearly $14 billion in Tesla stock in the last six weeks, launching rockets into space, inventing new driverless cars, influencing stock and cryptocurrency markets with his Tweets, and disclosing his Asperger's diagnosis while hosting Saturday Night Live.
"On behalf of every public school teacher, every waitress, every computer programmer, every street cleaner who actually paid taxes, and that means they paid more than Elon Musk," Warren said, urging Musk to pay the taxes.
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