Four of the corporations whose CEOs flanked President Trump at his January 2025 inauguration ceremony have now disclosed that they collectively received $51 billion in federal tax breaks in 2025, much of that likely from the so-called One Big Beautiful Bill Act (OBBBA) that was signed into law by Trump over the summer.
The annual financial reports recently released by Amazon, Alphabet, Meta, and Tesla disclose that these corporations collectively reported $315 billion in U.S. profits for 2025, and collectively paid just 4.9 percent of that amount in federal corporate income taxes—with Tesla paying exactly zero. That amounts to a collective tax savings of $51 billion last year for these four giant multinational corporations, versus what they would have paid if they paid the full 21 percent federal corporate income tax rate.
These tax breaks come on top of a far larger tax benefit that these companies enjoyed last year by virtue of the 2017 Trump tax cut’s reduction in the statutory tax rate from 35 to 21 percent. The baseline amount of tax owed on these companies’ $315 billion of U.S. income in 2025 would have been $44 billion higher absent the 2017 rate cuts.
These corporations have very visibly supported President Trump from the start of his administration. Their CEOs Mark Zuckerberg (Meta, owner of Facebook), Jeff Bezos (Amazon), Sundar Pichai (Alphabet, owner of Google), and Elon Musk (Tesla), attended his 2025 inauguration.
And 2025 was a banner year for each of these companies: the $315 billion of U.S. income they collectively reported was more than a third higher than what they reported the previous year. But the companies’ ability to leverage the tax system in their favor means that this incredible $78 billion year-over-year income growth went largely untaxed.
At a time when the American public is increasingly concerned about the concentration of political and economic power in the hands of a small group of corporate elites, the income tax disclosures released by Amazon, Meta, Alphabet, and Tesla this month demonstrate that these concerns are not misplaced. Tax cuts pushed through by the Trump administration last year and in 2017 have made it possible for the fastest-growing companies in the world to pay record-low federal income tax rates on their income. The tax avoidance of these four companies alone blew a $51 billion hole in the federal budget last year, and this is likely just the tip of the iceberg with the vast majority of the nation’s largest corporations yet to disclose their 2025 tax payments.
