Benjamin Franklin famously opined that the only things in life a man could be sure of were death and taxes. But then Franklin wasn’t running Tesla, or he’d have known that only death was unavoidable (and we imagine Elon Musk is working on that).
The world’s best-known EV brand hit the headlines again this week when it was named in a report listing 35 different firms from across the business spectrum in America that pay their bosses more than they pay in federal taxes. And Tesla wasn’t just on that list, it easily topped the table thanks to an absurd tax-to-pay ratio.
Number crunching by the Americans for Tax Fairness group revealed that Tesla paid its executives, including CEO Elon Musk, $2.5 billion between 2018 and 2022, but handed over -$1 million to the treasury over the same period. Yes, negative $1 million. It received $1 million from the government, despite earning $4.4 billion.
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