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That being said, "I would set tax rates quite a bit higher for rich people," Gates continued. Indeed, he said he would support a tax which axed 62% of his wealth—the equivalent of $101 billion.
As the CEPR noted, the median annual household income for a full-time worker in the U.S. is $54,132 — just a little more than one-third of the $160,200 income threshold for Social Security taxes.
The US's roughly 650 billionaires would have paid about $114 billion for 2020 under Warren's proposed "ultra-millionaire" tax, research suggests.
Meanwhile, Bill Gates in 1999 was worth nearly $150 billion in dollars adjusted to 2018. [4] The second-richest person in terms of wealth compared to contemporary GDP is a subject of dispute. While most sources attribute this status to Andrew Carnegie, others argue that it could be Bill Gates, Cornelius Vanderbilt I, John Jacob Astor IV, or ...
Gates and his wife invited Joan Salwen to Seattle to speak about what the family had done, and on December 9, 2010, Bill and Melinda Gates and investor Warren Buffett each signed a commitment they called the "Giving Pledge", which is a commitment by all three to donate at least half of their wealth, over the course of time, to charity.
Microsoft co-founder Bill Gates recently expressed his readiness to relinquish 62% of his wealth under a proposed tax system aimed at the affluent. What Happened: Gates, who has a net worth of ...
According to the foundation's website, Gates and his ex-wife, Melinda French Gates, have given about $59.5 billion to the foundation from its inception through 2023.
Musk paid $455 million in taxes on $1.52 billion of income between 2014 and 2018. [7] According to ProPublica , Musk paid no federal income taxes in 2018. [ 8 ] He stated his 2021 tax bill was estimated at $12 billion based on his sale of $14 billion worth of Tesla stock.