The World's Richest People Including Warren Buffett & Elon Musk Avoid Paying Taxes? - Kakiforex | Forex markets for the smart money. The World's Richest People Including Warren Buffett & Elon Musk Avoid Paying Taxes? The World's Richest People Including Warren Buffett & Elon Musk Avoid Paying Taxes?

June 9, 2021

The World's Richest People Including Warren Buffett & Elon Musk Avoid Paying Taxes?

 Details on the total tax payments of the wealthy in the United States (US), have reportedly been leaked to a news website.


According to the news website, ProPublica, they have seen details of the tax returns of some of the world’s richest individuals including Jeff Bezos, Elon Musk and Warren Buffett.


ProPublica claims Bezos did not pay any taxes in 2007 and 2011 while Musk did the same in 2018.


ProPublica added, they are doing an analysis of the ‘data received’ and will release more details in the next few weeks.


Clearly ProPublica again, the 25 richest individuals in the US pay only 15.8% of their gross income.



The site revealed that all of the richest US individuals used legitimate tax strategies and managed to reduce tax payments to zero or close to that figure despite the increase in the value of their wealth in recent years.


The rich, like most marhaen people, are able to reduce their income tax payments through charitable contributions and investment income rather than wages.


According to data collected through Forbes magazine, ProPublica said the wealth value of the 25 richest US individuals jumped by US $ 401 billion from 2014 to 2018 but they only paid income tax of US $ 13.6 billion during that period.


Previously, U.S. President Joe Biden wanted to increase the amount of taxes on the richest U.S. as one of his missions to improve equity and infrastructure investment programs.


Meanwhile, according to a White House spokesman, the data leak was 'wrong' and the Federal Bureau of Investigation (FBI) and tax -related authorities are investigating the matter.