Ways Billionaires Avoid Taxes on an Epic Scale

By Staff Writer

There are things the rich use to keep their wealth year after year. The multi-billionaire CEO of Amazon, Jeff Bezos, allegedly did not pay any federal income taxes in 2007, nor did he reportedly pay a dime in 2011. Elon Musk, the multi-billionaire CEO of Tesla, who is most known for his attempted bid to purchase Twitter, is said to have done the same in 2018. ProPublica revealed details from private tax filings made with the Internal Revenue Service in a disturbing news exposé on some of the world's wealthiest people. Bezos is currently considered to be the richest person on the planet by Forbes, with a net worth of over 180 billion dollars.

The aggregate fortune of American billionaires as of 2021 was well over four trillion USD. That's over twice as much as that of the poorest half of the population combined ($2.62 trillion). The industries that create the most billionaires are finance and investments, followed by technology. Then there are certain luminaries in the fashion and beauty spheres. Rihanna appeared on Forbes' annual list of the country's wealthiest women. She was the only billionaire under 40 to make the list as a singer and founder of Fenty Beauty, which is allegedly worth $2.8 billion. She managed to pass reality star Kim Kardashian, CEO of Skimms and KKW Beauty, and move up to the second place. Here you will find just how the mega-rich avoid taxes and keep their bank accounts fully loaded.

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