‘When I gave my savings to Elon Musk…’ Sen. Elizabeth Warren rails against wealth tax on world’s first trillionaire
Senator Elizabeth Warren has been heavily criticized for calling for a wealth tax. Elon Musk Musk became the world’s first trillionaire after SpaceX went public on Nasdaq. “Elon Musk just became the world’s first trillionaire. The typical American family would have to work over 11 million years to reach Elon Musk’s level of wealth. We need a wealth tax. ” Warren posted on Musk’s X website.Argentine-Hispanic entrepreneur Martin Varsavsky responded to Warren’s call and wrote: “When I give my savings to @elonmusk, they will multiply. When I give them to you and all of the US government, they will disappear.”Another wrote: “SpaceX alone has created over 5,000 millionaires and you have lifted zero people out of poverty or created zero millionaires (except yourself).”“Elon created thousands of millionaires. The only millionaire you create is yourself. Elon is a wealth creator. You are a looter. Although your title is politician, your real profession should be called a thief,” said Dinesh D’Souza, an Indian-born MAGA activist.Indian-origin Democrat Ro Khanna also raised the issue of a wealth tax on Elon Musk becoming a trillionaire. He said that Musk is now worth more than the GDP of South Africa and that if the United States imposed a 5% tax on him, it could fund free public universities and trade schools in the United States, 10% of daily child care and special needs education within a year.SpaceX raised $75 billion through its IPO, issuing 555.55 million shares at $135 per share. That makes it the world’s largest IPO, far surpassing the nearly $29 billion Saudi Aramco raised in 2019.Elon Musk controls about 85% of SpaceX’s voting rights and controls about 40% of the rocket maker’s total equity.SpaceX opened at $150 a share, then rose to around $168 before closing at just under $161. The price brings the company’s market capitalization to $2.1 trillion, making it the sixth-largest public company in the United States, surpassing even its founder and CEO’s other big business, electric car maker Tesla.Musk first appeared on Forbes’ annual list of global billionaires in 2012, with an estimated fortune of $2 billion, ranking 634th on the list of the world’s richest people. Since then, it only took Musk just nine years to become the world’s richest man for the first time in January 2021. Tesla’s stock price soared, pushing Musk to surpass Bezos and ascend to the top spot.
