The Rich Stop Paying Social Security Tax Around January 1

After Kisses on New Year’s Eve, 229 Americans Have Already Paid Their Social Security Tax

Fifteen minutes past midnight on New Year’s eve Elon Musk will have paid all of his Social Security tax on earnings from Tesla. If all of Musk’s income was taxed he would pay all his Social Security tax in about 60 seconds, maybe after one short kiss.

Alexander Karp, CEO of Palantir pays all his Social Security tax (OASDI) in about 19 minutes past midnight January 1; Hock Tan, CEO Broadcom and Brian Armstrong, CEO Coinbase, pay by 12:30 am — one champagne glass and two kisses. In the first few hours of 2025, over 229 U.S. workers earning over $50 million per year will have likely paid all their Social Security taxes for the entire year. (Only salaries from executives at public companies are disclosed so there are likely more rich executives at private companies who have paid all their Social Security within a half an hour of the new year.)