Elon Musk says Americans get the living daylights taxed out of us.’ Here's how he avoids taxes to hold onto his wealth Jing Pan Tue, June 23, 2026 at 8:20 AM PDT 10 min read TSLA Andrew Harnik/ Getty Images Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. They say the only certainties in life are death and taxes but Tesla CEO and world's first trillionaire Elon Musk thinks Americans are getting far more than their fair share of the latter. "You get taxed on what you earn, you get taxed on what you buy and you get taxed on what you own. Taxes, taxes, taxes," Musk said at a town hall in Pittsburgh (1). Top Picks Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake here's how to fix it ASAP JP Morgan sees gold hitting $6,000/oz before 2027 and a Gold IRA lets you hold the physical metal while deferring the tax bill. Get your free guide from Priority Gold The ultra-rich use these 5 real estate strategies to build wealth while they sleep you can start with just $100 In broad terms, he's not wrong. Most Americans pay income tax on their wages and salaries, most states impose sales tax on goods and services, and homeowners shoulder property taxes on real estate. Layers of taxation touch just about every part of daily life. Musk didn't mince words about how harsh he believes the tax landscape has become: "We get the living daylights taxed out of us." And he's equally blunt about how that money is spent. "What does it get spent on? A bunch of the stuff it gets spent on you don't even agree with," he explained. "That's why we need to reduce the size of the government ... and let the people keep a lot more of their hard-earned money." To be sure, taxes help fund crucial public services, such as education, health care, emergency services and infrastructure. But the system Musk described can still leave many Americans wondering what realistic options they have for building wealth when every dollar earned, spent and owned seems to face another levy. That frustration isn't limited to tech CEOs. Scott Galloway, a renowned professor of marketing at NYU Stern School of Business, has openly argued that if you want to build wealth, you should lower your tax bill as much as possible. "Tax avoidance is a key skill to building wealth," Galloway said on Steven Bartlett's podcast, The Diary of a CEO (2). Galloway offered a striking comparison: "If you're a prisoner of war, you have an obligation to escape. If you're trying to build wealth, you have an obligation to pay as little tax as possible." "Do it legally," he adds. But that's easier said than done. If you're starting to feel like a prisoner of taxes and are looking for a way to escape, here are some strategies to minimize their hold on...
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