Criticized for 'Jwikkori Tax,' Musk Says "I Will Sell My Last Remaining House"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Elon Musk, CEO of Tesla, who has been criticized for paying only a "peanut" amount of income tax, announced that he plans to sell the last remaining house he owns in California.

On the 14th (local time), Musk wrote on Twitter, "I plan to sell the last remaining house." Regarding the house he owns in the San Francisco Bay Area of California, Musk described it as a "very special place" and expressed his intention to sell it to a large family.

This statement came after reports that Musk and other American billionaires paid only a "peanut" amount of income tax relative to their wealth, and it is interpreted as an attempt to quell criticism over the "peanut tax."

Earlier, on the 8th, the American investigative media outlet ProPublica analyzed unpublished IRS data and revealed that from 2014 to 2018, Musk's wealth increased by $14 billion (about 15.6 trillion KRW), but his federal income tax payments amounted to only $455 million (about 509.1 billion KRW).

One year ago, when criticism about his wealth arose, Musk also mentioned selling his house and most of his assets as a way to quell the criticism.

Bloomberg reported, "Musk has previously sold two houses located in California to avoid criticism surrounding his wealth," and added, "This time, after reports that he paid almost no income tax surfaced, he said he would sell the last remaining house."

Meanwhile, Bloomberg reported that Musk is currently renting and living near the Boca Chica launch site in Texas, where his private space exploration company SpaceX is based.

This content was produced with the assistance of AI translation services.