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Billionaires including Amazon AMZN, +1.22% founder Jeff Bezos, Tesla TSLA, +1.86% co-founder Elon Musk and media giant Michael Bloomberg have avoided paying federal income tax in some years, according to a report from ProPublica, which cited a set of Internal Revenue Service data. .
By -1.07%, Warren Buffett, CEO and chairman of Berkshire Hathaway BRK.B, avoided most taxes, according to a ProPublica trove, paying a 0.1% tax rate on the $24.3 billion fortune he raised between 2014 and 2018. (Note taxes on income, not wealth.)
ProPublica said it does not disclose how it obtained the data, which was given to it in its raw form. It is illegal for the IRS to give personal returns to any individual. ProPublica says it has the tax returns of thousands of the country’s wealthy, covering more than 15 years.
The report said it had reached out to all the individuals mentioned in the story, and those willing to comment, all indicated that they had paid the taxes due. George Soros, a billionaire investor, said he has not paid any taxes in the years he lost money on his investments.
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