On Wednesday, former hedge fund manager known as the “Pharma Bro,” Martin Shkreli, pushed back on Sen. Elizabeth Warren’s (D-Mass.) accusations that several major U.S. corporations paid no federal income tax.
Warren took to X and said that if taxpayers paid even a small amount in federal income tax last year, they contributed more than several large companies, including Tesla Inc., Walt Disney Co., Palantir Technologies, CVS Health, Citigroup and others.
She argued that despite generating billions in revenue, these firms effectively paid “$0” in federal income taxes and called for reforms to ensure corporations “pay their fair share.”
If you paid even a penny in federal income tax last year, you paid more than:
Tesla
Southwest
Disney
Live Nation
HP
United
PayPal
CVS Health
Palantir
Citigroup
PG&E
3M
That’s right. They paid $0 in federal income tax.
It’s time for big corporations to pay their fair share.
— Elizabeth Warren (@SenWarren) April 15, 2026
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Shkreli disputed the allegations, arguing that Warren conflated accounting figures with actual cash payments.
“This is false,” he wrote on X, pointing to Disney’s SEC filings showing billions in income taxes paid over recent years.
According to Disney’s cash flow disclosures, the company reported income taxes paid of $1.22 billion in 2025, $3.96 billion in 2024 and $1.19 billion in 2023.
“This is your problem. You don’t know facts and shoot from the hip,” Shkreli said.
This is false. Disney paid $1.2B in taxes last year. Your inept staff is confusing an accounting accrual reversal with cash taxes paid.
This is your problem. You don’t know facts and shoot from the hip. https://t.co/2SMMZh863O pic.twitter.com/VjwqqggPL7
— Martin Shkreli (@MartinShkreli) April 15, 2026
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Warren separately said Elon Musk’s Tesla paid $0 in federal income taxes in 2025 despite reporting $5.7 billion in earnings.
Tesla paid $0 in federal income taxes in 2025, despite making $5.7 billion.
This Tax Day, remember that you have paid more in taxes than a multi-billion dollar company—all thanks to corporate tax breaks from Trump’s One Big Beautiful Bill.
— Elizabeth Warren (@ewarren) April 15, 2026
Shkreli countered that Tesla’s position reflects legal deductions, including net operating losses and stock-based compensation, not recent legislation alone.
He also noted that clean energy tax credits under the Inflation Reduction Act further affect Tesla’s effective tax burden.
1) you make the rules
2) NOLs havent run out – tesla took huge risk and made huge losses for a long time
3) the massive success in Tesla’s stock creates a deduction – didnt come from big beautiful bill – has been in the code for decades
4) biden’s inflation reduction act gave…
— Martin Shkreli (@MartinShkreli) April 16, 2026
Tesla, Disney and Palantir did not immediately respond to Benzinga’s request for comments.
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Previously, former U.S. Labor Secretary Robert Reich cited an analysis from the Institute on Taxation and Economic Policy, which found that Tesla reported about $5.7 billion in U.S. pre-tax income while showing no current federal income tax liability for 2025.
Tesla’s filings indicate that the company does pay taxes in multiple jurisdictions globally, and the “zero” figure refers specifically to its current U.S. federal income tax obligation.
Supporters of the system argue these outcomes reflect deliberate tax incentives designed to promote investment and innovation. Critics, however, say the structure allows highly profitable corporations to significantly reduce or even eliminate their federal tax bills under existing law.
Maverick Pictures via Shutterstock
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