After being slammed by Sen. Elizabeth Warren for “freeloading” and not paying his fair share of taxes, Elon Musk tweeted that he will pay $11 billion this year.
“For those wondering, I will pay over $11 billion in taxes this year,” the chief executive of Tesla tweeted Monday.
Warren had mentioned Musk not paying his taxes as she and other legislators are currently considering making changes to the tax code, the New York Post reported.
The change in the tax code would mean that billionaires would have to pay taxes on their unrealized stock gains, affecting several tech giants.
The senator slammed Musk in a tweet mocking him for being named The Person of the Year for 2021 by Time Magazine.
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This spat with Warren comes after Musk got into an argument with Sen. Bernie Sanders, also over taxes.
After the fight in November, Musk asked his Twitter followers if he should sell 10% of his shares in Tesla and did so when they voted yes.
Since early November, the Tesla CEO has sold off $14 billion in his company’s stock.
Experts have said this is something he would have had to do anyway, with a $15 billion tax bill being sent his way in August 2022 after his 2012 stock options expire.
Musk has built his fortune from stock awards and the gains in Tesla’s share price, not taking a salary in the electric car company he founded.
He has been one target that members of Congress have looked to hit with a potential wealth tax. Other notable billionaire targets include Jeff Bezos and Mark Zuckerberg.
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With the comments appearing to upset Musk, he called Warren “Senator Karen,” saying she reminds him of an “angry mom.”
Either way, the billionaire known for being the wealthiest person in the world, starting an electric car company, and sending people to space is sent to pay a hefty chunk of change in 2022.
