‘When I give my savings to Elon Musk…’ Senator Elizabeth Warren trolled for demanding wealth tax on world’s first billionaire

‘When I give my savings to Elon Musk…’ Senator Elizabeth Warren trolled for demanding wealth tax on world’s first billionaire

Senator Elizabeth Warren trolled for demanding wealth tax on Elon Musk.

Senator Elizabeth Warren was trolled for demanding a wealth tax on Elon Musk after Musk became the world’s first billionaire following SpaceX’s Nasdaq debut. “Elon Musk becomes the world’s first trillionaire. The typical American family would have to work more than 11 million years to build Elon Musk’s level of wealth. “We need a wealth tax,” Warren posted on a Musk-owned Axe.Argentinian-Spanish entrepreneur Martín Varsavsky responded to Warren’s call and wrote: “When I give my savings to @ElonMusk they multiply. When I give them to you and the entire US government, they disappear.”Another wrote, “SpaceX alone has created over 5,000 millionaires while you have lifted zero people out of poverty or created zero millionaires (besides yourself).”Indian-origin MAGA activist Dinesh D’Souza said, “Elon has created thousands of millionaires. The only millionaire you have created is yourself. Elon is a wealth creator. You are a robber. While your title is politician, your real profession should be called a thief.”Indian-origin Democrat Ro Khanna also raised the issue of wealth tax if Elon Musk becomes a billionaire. He said Musk is now worth more than the GDP of South Africa and if the US taxed him 5%, he could finance free public college and trade schools, 10%/day child care, special needs education in the US in a year.SpaceX raised $75 billion through an IPO, issuing 555.55 million shares at $135 per share. That makes it the world’s biggest IPO by a wide margin, surpassing the nearly $29 billion raised by Saudi Aramco in 2019.Elon Musk controls about 85% of SpaceX’s voting power and about 40% of the total equity in the rocket maker.SpaceX opened at $150 a share, then rose to around $168, before ending the day at just under $161. That price gave the company a market value of $2.1 trillion, making it the sixth-largest public U.S. company — bigger than its founder and CEO’s other big business, electric vehicle maker Tesla.Musk first appeared on Forbes’ annual World Billionaires list in 2012, with an estimated net worth of $2 billion, making him the 634th richest person in the world. From there, it took only nine years for Musk to become the world’s richest person for the first time in January 2021, as Tesla shares soared, allowing Musk to overtake Bezos for the No. 1 spot.

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