Elon Musk owns a lot of world records, but he’d prefer if he didn’t have this one. The Tesla CEO said his $11 billion personal income tax bill is the biggest in U.S. history. He plans to stop by the IRS on his next trip to Washington, D.C., to see if the agency will give him a consolation prize for the accomplishment.
The SpaceX founder addressed his massive tax payment on Twitter Sunday after someone shared a video of Sen. Elizabeth Warren attacking billionaires for using tax loopholes. In the CNN interview, the Massachusetts Democrat said Elon Musk and Jeff Bezos needed to contribute more.
“You know how much [Elon Musk] paid in taxes, one of the richest people in the world? Zero! And he’s not the only one,” she said. “Jeff Bezos, another one of the richest people in the world, he pays less in taxes than a public school teacher or a firefighter.”
Musk thought his $11 billion in income taxes for last year should suffice.
“Will visit IRS next time I’m in DC just to say hi since I paid the most taxes ever in history for an individual last year,” he replied. “Maybe I can have a cookie or something.”
The two have traded blows on social media before. Just after Time magazine named Elon Musk its Person of the Year in December, Warren tweeted it was time to change to the “rigged tax code” to keep him from “freeloading.”
Musk called Warren an “angry mom” and “Senator Karen.”
Warren’s claims aren’t baseless. Musk paid less than $70,000 in taxes in 2015 and 2017 and nothing in 2018, ProPublica found in an investigation. His tax bill was so high last year because he exercised billions in Tesla stock options in August before they expired.
Elon Musk Says Tesla Model 3 ‘Most Made’ American Car
President Joe Biden earlier this month said his administration would make all federal vehicles electric. He said the plan would boost manufacturing in the country and create American jobs.
“We’re gearing up to make all 600,000 federal government vehicles electric, bringing more manufacturing jobs back to our country, and building supply chains here at home,” Biden tweeted. “We’re making ‘buy American’ a reality — not just a promise.”
Elon Musk, who’s been critical of Biden and other U.S. electric car manufacturers, said that government should look at Tesla if they plan to buy American.
“Model 3 is literally the most made in America car in – well of course – America,” Musk tweeted.
He linked a USA Today article that said Tesla is the only automaker that can stamp “Made in America” on all of its vehicles.
“It’s worth noting that Tesla is the only major automaker to claim 100 percent domestic production for all cars it sells in the U.S., well above the industry’s roughly 52 percent average for the 2021 model year,” Kelsey Mays, assistant managing editor at Cars.com, says in the article.