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Economics in Brief: How the Ultra-Wealthy (Legally) Avoid Taxes

Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

Opinion | Why Elon Musk Has a Lower Tax Rate Than You

How the ultrawealthy avoid paying their fair share of tax

. In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes. Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row. ProPublica has obtained a vast trove of Internal Revenue Service data on the tax returns of thousands of the nation’s wealthiest people, covering more than 15 years. The data provides an unprecedented look inside the financial lives of America’s titans, including Warren Buffett, Bill Gates, Rupert Murdoch and Mark Zuckerberg. It shows not just their income and taxes, but also their investments, stock trades, gambling winnings, and even the results of audits.

The Secret IRS Files: How The Wealthiest Avoid Paying Income Tax

Subscribe In 2007, Jeff Bezos, then a multibillionaire and now the world s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes. Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row. Subscribe ProPublica has obtained a vast trove of Internal Revenue Service data on the tax returns of thousands of the nation s wealthiest people, covering more than 15 years. The data provides an unprecedented look inside the financial lives of America s titans, including Warren Buffett, Bill Gates, Rupert Murdoch and Mark Zuckerberg. It shows not just their income and taxes, but also their investments, stock trades, gambling winnings and even the results of audits.

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