Elon Musk
Data from tax groups showed that Elon Musk would have paid $ 4.6 billion in 2020 under proposals for a "super millionaire" tax.
Senator Elizabeth Warren of Massachusetts proposed the Super Millionaire Tax Act Monday. It would impose an annual tax of 2% on individual net worth between $ 50 million and $ 1 billion, or 3% on net wealth in excess of $ 1 billion.
If that tax had been in place in 2020, Musk would have paid the second most American, and only outgoing Amazon CEO Jeff Bezos, Americans for Tax Justice (ATF) and the Institute for Policy Studies (IPS) project on inequality would have beaten him. Basing their accounts on Forbes data. The two groups said Musk would be followed by Microsoft co-founder Bill Gates and Facebook CEO Mark Zuckerberg.
The two groups said that the country's nearly 650 billionaires possess a collective wealth of more than $ 4.2 trillion. Their fortunes have increased by about 44% since March 2020, when anti-pandemic lockdowns began in the United States, and for a decade, the wealth tax on these 650 billionaires alone would fund about three-quarters of President Joe Biden's virus relief package. Corona amounting to $ 1.9 trillion. He said ATF and IPS.
They added that about a third of the wealth tax will be paid by the 15 richest Americans alone, who collectively have more than $ 2.1 trillion in wealth.
Musk has gotten richer and richer over the past year
At the end of 2020, Musk's real-time value was $ 153.5 billion according to Forbes and $ 170 billion, according to Bloomberg. Both wealthy lists said his fortune had more than six times increased in a year.
Based on Forbes' numbers, Musk paid $ 4.6 billion last year under Warren's proposal. Using Bloomberg numbers, this would have been $ 5.1 billion.
Musk and Bezos have been turning around as the richest person in the world since January. As of March 5, Bezos tops the Forbes and Bloomberg charts. Musk is valued at $ 152.4 billion, according to Forbes, and $ 162 billion, according to Bloomberg.
Mask made his fortune from his business empire. He is the CEO of both Tesla and SpaceX, founder of Neuralink, and co-founder of The Boring Company.
Although he is paid the minimum salary allowed by law from Tesla, Musk's compensation package gives him shares when Tesla achieves certain goals, making him the highest-paid CEO in the world last year. He holds approximately 20% of the shares in Tesla, as well as 57 million Tesla stock options, according to Bloomberg.
He also has a 48% stake in his space company, SpaceX. The February 2021 funding round estimated SpaceX at $ 74 billion.
Musk has ambitious plans to realize his fortunes. In December, Insider CEO Matthias Dobfner told Axel Springer that he was selling all of his possessions to fund a future colony on Mars.
"In fact, I will not own nearly any monetary value of interest, except for shares in companies," Musk said. "If things are intense at work, I just love to sleep in the factory or office. Obviously, I need a place if my kids are there. So, I'll rent a place or something like that."
Musk also recently sold several expensive properties, including three adjacent homes in the Bel Air neighborhood of Los Angeles.
Source:
insider
