Elon Musk, Richest Man Alive, Is Asked How He Feels About Being Labeled 'Evil Billionaire' — 'It's Not Like I've Got Some Massive Cash Balance'

If you're expecting Elon Musk to apologize for being rich, don't hold your breath. During a 2021 sit-down with the team behind The Babylon Bee—the satire site known for spoofing everything from politics to pop culture—Musk got personal about his money, his taxes, and what he really thinks of those who say billionaires are evil.

"This is not a joke," the site warned when announcing the episode. And for once, they meant it.

In the interview, Musk sat down with Babylon Bee CEO Seth Dillon, Editor-in-Chief Kyle Mann, and creative director Ethan Nicolle. At one point, one of the hosts asked him directly about the public backlash: "The annoyance though of people holding it against you that you've had success, that you have wealth—viewing billionaires as evil, or that you're not doing enough to give back—how do you feel about that?"

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Musk didn't flinch.

"I think it's just important to understand, like, what is this wealth?" he said. "It's not like I've got some massive cash balance. My cash balances are very, very low."

At the time, Musk's net worth had already passed $200 billion, driven almost entirely by Tesla and SpaceX stock. But according to him, that didn't mean he had piles of money lying around. "I simply had loans against my stock. If Tesla or SpaceX went bankrupt, I would go bankrupt too. Immediately."

Musk made it clear he wasn't cashing out while others were still invested. "I didn't sell the stock in the companies," he said. "My sort of impression was that you shouldn't take money off the table… that a captain should go down with their ship."

It wasn't just online critics questioning Musk's fortune. Sen. Elizabeth Warren (D-MA) famously accused him of freeloading and not paying his fair share in taxes.

"She struck first," Musk said. "She called me a freeloader, a grifter who doesn't pay taxes—basically. And I'm literally paying the most tax that any individual in history has ever paid this year. Ever."

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Warren, he claimed, "basically doesn't pay taxes at all," and added, "Her salary is paid for by the taxpayer—like me."

So, would Musk need a team of elite accountants to sort all that out?

"My taxes are actually not that complicated," he said. "I do not have any offshore accounts. I don't have any tax shelters. I have basically Tesla and SpaceX stock."

He added, "I don't need H&R Block—I could do it. Yeah, it would probably take me a few hours to do my taxes. It's very basic."

The richest man on Earth filing his own taxes with a calculator and a cup of coffee? That's one way to stick it to the narrative.

And while some viewers may have expected him to offer some billionaire guilt, Musk shut that down fast.

"I'm just trying to explain," he said. "This is not some function of hoarding or something. I own 20% of a company that became very valuable as decided by external investors. So 20% of a trillion-dollar valuation is $200 billion."

He even admitted he paid no income tax in 2018—but only, he said, because he had no income. "I overpaid taxes, I think, in 2017," he explained. "So I basically netted that out in 2018 because I paid too much tax in 2017."

"Unless I sell stock," he added, "there's no actual mechanism to pay tax."

See Also: Are you rich? Here’s what Americans think you need to be considered wealthy.

With critics still hammering him over his "fair share," Musk took the question to Twitter: "Should I sell 10% [of my Tesla stock] in order to pay tax?" He said, "On balance, they said yes."

He followed through, selling enough stock to meet the 10% mark and cover the tax bill tied to expiring options. "I try to be extremely literal," Musk said. "You don't generally need to read between the lines—you can just read the lines."

As for whether he's done enough to "give back"? Musk pointed to the mission and measurable impact of his companies. "SpaceX has launched more payload to orbit than the rest of the world combined," he said. "Tesla builds electric vehicles and has pushed the entire auto industry forward. These companies have done a lot of useful things."

For someone often painted as a cartoonish villain, Musk sounded more like a CEO arguing that innovation—not indulgence—is what justifies the numbers next to his name.

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