Elon Musk says he will pay more than $11 billion in taxes this year

Elon Musk said he will pay more than $11 billion in taxes this year, a week after taking to Twitter to say he will face the largest tax bill out of "any American in history." Earlier this year, the Tesla CEO and SpaceX founder became the first person in the world to reach a net worth of more than $300 billion.

"For those wondering, I will pay over $11 billion in taxes this year," he tweeted on Sunday night. 

Last week, after Musk was named Time magazine's "Person of the Year," Senator Elizabeth Warren tweeted that the U.S. should change the "rigged tax code so The Person of the Year will actually pay taxes and stop freeloading off everyone else."