In fitting reply, billionaire Elon Musk vows to pay over $11 bn in taxes this year

Giving a reply in the debate over paying more taxes, Tesla Inc's Chief Executive Officer Elon Musk has announced on Sunday on Twitter that he will pay over $11 billion in taxes this year.  

On Twitter, Democratic US Senator Elizabeth Warren had earlier said that Musk should pay taxes and stop "freeloading off everyone else". The remark had come after Time magazine named him its "Person of the Year".  

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In the reply, Musk had said that he "will pay more taxes than any American in history this year".  

Earlier, Time magazine’s choice for 'Person of the Year' 2021 had not gone down well with several critics, who slammed the publication. It was being called ‘worst choice ever’ as billionaire Elon Musk was criticised for opposition to unions, attitude towards tax and playing down Covid dangers.    

Time had described Musk as a “clown, genius, edgelord, visionary, industrialist, showman” while talking about his achievements.      

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It was the “worst choice ever”, said Kurt Eichenwald, an author.    

Musk had been opposing a “billionaires tax” floated by some lawmakers in US. He and some other super-wealthy people in the country paid tax at a very small rate in comparison to their significant rise in wealth from 2014 to 2018, said a probe by Propublica this year. Musk allegedly paid only a “real” rate of 3.27%.     

(With inputs from agencies)