Dan Price: Effective Tax Rate

Posted by admin on Friday, December 3, 2021

Dan Price Money Quote saying Elon Musk net worth is over $300 Billion Dollars and pays an effective tax rate of less than 5% No Salary would earn that much in a lifetime. Dan Price said:
 
If your salary was $1 million a year and you never spent any of it you would reach his current $302B net worth 302,000 years from now. Elon Musk pays an effective tax rate of 3.3% Quote
 

“Elon Musk just became the first person in the history of civilization to be worth $300 billion. If your salary was $1 million a year and you never spent any of it you would reach his current $302B net worth 302,000 years from now. He pays an effective tax rate of 3.3%” — Dan Price

 

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In this quote, Dan Price is providing context around Elon Musk’s massive $302 billion net worth by comparing it to more relatable salary and time scales. His key points are:

  • Elon Musk is the first person ever worth over $300 billion
  • To accumulate the same wealth as Musk’s current net worth, even earning $1 million per year and never spending anything, it would take over 302,000 years
  • This highlights just how enormous a sum $300 billion is and how difficult it is for ordinary people to comprehend
  • He also notes Musk pays an effective tax rate of only 3.3% on this wealth, which Price seems to imply is unfairly low given Musk’s unprecedented level of earnings and accumulation of assets

Overall, Price is attempting to put Musk’s extraordinary wealth and success into more tangible perspective for average readers by comparing it to lifetime salary earnings and timescales that provide greater context of its scale and implications.

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