In a tweet, Tesla Inc’s CEO Elon Musk said, he will be paying more than $11 billion in taxes this year.
The development comes in the wake of Democratic Senator Elizabeth Warren tweeting that Musk should pay taxes and stop “freeloading off everyone else” after Time magazine named him its “person of the year”.
In response Musk tweeted he “will pay more taxes than any American in history this year”.
Musk is the world’s richest person.
Tesla’s valuation is worth round $1 trillion.
In the last few weeks, Musk has sold nearly $14 billion worth of Tesla shares.