Musk Reaches $1T Net Worth, Sparking Calls for a Radical Wealth Tax

Elon Musk’s net worth jumped past $1 trillion as SpaceX’s public debut makes him the world’s first trillionaire, provoking global revulsion and renewed demands for a bold wealth tax to curb inequality. Campaigners say the ultra-wealthy benefit from a biased tax system and government support for their companies, noting SpaceX and Tesla’s limited federal taxes; they argue even a 10% wealth tax could lift hundreds of millions from poverty and urge policymakers to reverse wealth concentration and curb corporate power.