Media365
Senator Elizabeth Warren was royally trolled as she called for a wealth tax on Elon Musk after Musk became the world’s first trillionaire after SpaceX’s Nasdaq debut. “Elon Musk just became the world’s first trillionaire. The typical American household would have to work more than 11 MILLION years to make Elon Musk’s level of wealth. We need a wealth tax,” Warren posted on Musk-owned X.Argentine-Spanish entrepreneur Martin Varsavsky replied to Warren’s calls and wrote: “When I give my savings to @elonmusk they multiply. When I give them to you and all of the US government, they disappear.”“SpaceX alone just created over 5,000 millionaires while you have lifted zero people out of poverty or created zero millionaires (besides yourself),” another wrote.“Elon has created thousands of millionaires. The only millionaire you’ve created is yourself. Elon is a wealth creator. You are a looter. While your title is POLITICIAN, your real profession should be called THIEF,” Indian-origin MAGA activist Dinesh D’Souza said.Indian-origin Democrat Ro Khanna too raised the issue of a wealth tax on Elon Musk becoming a trillionaire. He said Musk is now worth more than South Africa’s GDP and if the US had a 5% tax on him, it could fund free public college and trade school, %10/day childcare, special-needs education in the US — in one year.SpaceX raised $75 billion through the IPO, issuing 555.55 million shares at $135 apiece. This makes it the world’s biggest IPO by a wide margin, eclipsing the nearly $29 billion raised by Saudi Aramco in 2019.Elon Musk controls about 85% of SpaceX voting power and controls about 40% of total equity in the rocket manufacturer.SpaceX opened at $150 a share, then rose to around $168, before finishing the day just below $161. That price gave the company a market value of $2.1 trillion, making it the sixth-largest public US company — larger even than its founder and CEO’s other big business, the electric vehicle maker Tesla.Musk first debuted on Forbes’ annual World’s Billionaires list in 2012, with an estimated $2 billion fortune, making him the 634th-richest person in the world. From there, it only took Musk just nine years to become the world’s wealthiest person for the first time in January 2021 as Tesla’s shares soared, propelling Musk past Bezos for the No 1 spot.
