Inspired by Matt Korostoff's original scroller: 'Wealth shown to scale'
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Everything’s changing all the time, but this scroll is accurate in late March 2025.
Responding to revelations about Tesla paying $0 in federal income taxes, Musk said: “Tesla losses were high for many years,” then cited carry-forward rules and the fact that Tesla’s profits are generated mainly overseas. “Tesla complies with all tax regulations in all of the regions of the world in which we operate,” he posted on Twitter. Merely looking at any one recent year in isolation will not provide the “full picture,” he added.
According to the Institute on Taxation and Economic Policy (ITEP) , Tesla saved about $500 million in taxes last year using accelerated depreciation. Additionally, tax breaks for executive stock options trimmed $250 million off the company’s tax bill, while “unspecified US tax credits” added a further $300 million of tax savings.
Note: after a backlash, the Department for Veterans Affairs has postponed Musk’s $2bn cuts