No single person is definitively the "most" tax paid ever due to varying global systems, but Elon Musk paid a record individual tax bill of around $11-12 billion for the 2021 tax year, and Berkshire Hathaway, led by Warren Buffett, paid the largest corporate tax bill in U.S. history (over $26 billion) in 2024, highlighting massive payments by individuals through their companies or personal income. Other major individual taxpayers include Alex Gerko (UK), and historically, figures like Denise Coates in the UK.
In 2021, Elon Musk set a record by paying an estimated $10–11 billion in taxes—the largest single-year tax payment ever made by an individual. The staggering bill came after he exercised about 23 million Tesla stock options awarded back in 2012 that were nearing expiration.
Denmark. Citizens in Denmark pay the most taxes overall, thanks to a top marginal income tax rate of around 55% and an overall tax burden (taxes as a percentage of GDP) of over 45%, one of the highest globally.
Musk paid $455 million in taxes on $1.52 billion of income between 2014 and 2018. According to ProPublica, Musk paid no federal income taxes in 2018. He stated his 2021 tax bill was estimated at $12 billion based on his sale of $14 billion worth of Tesla stock.
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Is the UK the most heavily taxed country?
In 2022, the United Kingdom was ranked 16th out of the 38 OECD countries in terms of the tax-to-GDP ratio. 1. In this note, the country with the highest level or share is ranked first and the country with the lowest level or share is ranked 38th. Equal to the OECD average from value-added taxes.
High-Income Taxpayers Paid the Majority of Federal Income Taxes. In 2022, the bottom half of taxpayers earned 11.5 percent of total AGI and paid 3 percent of all federal individual income taxes. The top 1 percent earned 22.4 percent of total AGI and paid 40.4 percent of all federal income taxes.
In September 2021, the Musk Foundation donated $55 million to St. Jude Children's Research Hospital as part of a fundraiser by SpaceX customer Jared Isaacman. In the same year, it provided $100 million for technologies to remove carbon dioxide from the atmosphere.
Encyclopedia Britannica states that he is "widely considered to be the wealthiest person in history". The Catalan Atlas (1375 AD) describes Mansa Musa as 'the richest man in the region', but makes no mention of him being 'the richest in the world' or 'the richest in history'.
Taxes are generally higher in the UK than in the US, especially for average earners, due to lower UK income tax thresholds and higher effective rates, plus a national VAT; however, the US adds significant state/local income and sales taxes, making the overall burden highly dependent on income level, location, and family status, though the UK's progressive system can hit middle-income workers harder, notes The Telegraph and taxfix.com.
There isn't one single country with the absolute lowest tax rate, as it varies by income type (personal vs. corporate) and residency, but several nations offer zero personal income tax, including the United Arab Emirates (UAE), Saudi Arabia, Qatar, Kuwait, and the Bahamas, making them top contenders for lowest overall tax burden, while countries like Hungary offer extremely low corporate taxes (9%).
The UK's economy and the structure of its workforce also play a crucial role in shaping its tax system. With a significant portion of the economy centred around services, the government relies heavily on Income Tax and National Insurance contributions, which are relatively high compared to other types of taxes.
The highest rate of income tax peaked in the Second World War at 99.25%. It was then slightly reduced and was around 90% through the 1950s and 1960s. In 1971 the top rate of income tax on earned income was cut to 75%. A surcharge of 15% kept the top rate on investment income at 90%.
It's true that the highest income tax band is 45%, which applies to income of more than £125,140 a year. However, there is effectively a 60% band between £100,000 and £125,140.
Lawmakers are hesitant to cut programs or services people rely on, making tax hikes the more probable solution. Buffett also shared just how much Berkshire Hathaway contributes to the federal government, revealing an astonishing figure: "We sent in over $5 billion to the US federal government last year.
Warren Buffett and Bill Gates consistently rank as the top billionaire donors in terms of total lifetime giving, with Buffett often cited as the largest with over $60 billion (much channeled through the Gates Foundation), followed by Gates and Melinda French Gates with substantial contributions to global health and poverty. MacKenzie Scott has recently emerged as a major force, becoming one of the most generous by focusing on a wide range of causes, while George Soros and Michael Bloomberg also lead in significant lifetime donations, focusing on democracy, climate, and education.
By the end of Trump's presidential campaign, Musk had spent $277 million supporting Trump and allied Republicans, making the largest individual political donor of the 2024 election and the largest individual political donor since at least 2010 outside of candidates funding their own campaigns.
Total federal tax for a $100,000 income is calculated as $17,400, with an example state tax of $5,000 leading to a total tax liability of $22,400. Tax credits like the Earned Income Tax Credit and Child Tax Credit can significantly reduce tax bills.
There isn't one single "highest tax paying country" as it depends on the type of tax (income, sales, etc.) and income bracket, but countries like Ivory Coast, Denmark, Finland, and Japan consistently rank highest for top personal income tax rates, funding extensive social welfare systems. For overall tax burden on labor, Belgium often leads, while Scandinavian nations are known for high income taxes funding public services.
How much did Jeff Bezos pay in federal income tax?
The Bezos $2.7 billion income tax payment, Liu noted in her Forbes analysis, represented only 4.5 percent of the 2024 increase in his personal net worth — approximately $60 billion — and barely more than 1 percent of his overall $230 billion net worth. Props to Liu for her reporting.
Adele paid £4m in UK taxes last year. Yep, that puts her in the same tax league as social media giant Facebook. As well as being a singer-songwriter she also owns her own publishing company. So the 28-year-old not only makes money from her record sales but from her lyrics, sheet music and royalties.
