Bill Gates is complaining about paying ‘$100bn’ under Warren’s wealth tax and everyone made the same point

Bill Gates is complaining about paying ‘$100bn’ under Warren’s wealth tax and everyone made the same point

Bill Gates has complained that Elizabeth Warren’s wealth tax would leave him “counting what he has left over”.

The Microsoft founder is the second richest man in the world – behind Amazon’s Jeff Bezos – with an estimated wealth of $109bn, according to Bloomberg.

That wealth means he would have to pay a substantial amount with Warren’s plan, which proposes a 3 per cent tax on households with a net worth of more than $1bn.

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At the New York Times DealBook conference on Wednesday, Gates didn't sound very pleased about that idea.

He said:

I'm all for super-progressive tax systems.

I've paid over $10bn in taxes. I've paid more than anyone in taxes. If I had to pay $20bn, it's fine.

But when you say I should pay $100bn, then I'm starting to do a little math about what I have left over.

He quickly added that he was “just kidding” and laughed.

Nevertheless, Gates’ comments have drawn attention to how much he would pay under Warren’s tax system.

There are different figures going around for Gates’ net worth but most people have settled on the $106.8bn figure that comes up on Google.

With that number, even if Warren forced him to pay $100bn in tax, he would still be one of the richest people in the world.

This is also assuming that Gates doesn’t make any more money in his life, which is unlikely because he makes money simply by investing his fortune.

Here are various estimates about how long it would take him to lose his billionaire status…

And if you consider that the oldest person ever recorded is Jeanne Calment, who lived to the age of 122 years old, it seems fair to say Gates would never stop being a billionaire.

Warren has also stepped in to reassure him that he will still be unbelievably wealthy with her tax plan.

What does Bill Gates even need all that money for anyway? There must be something more useful he can spend it on…

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