Musk Trillionaire Status Stokes Democrats’ Tax-the-Rich Push (1)

Democratic lawmakers seized on Elon Musk’s new status as the world’s first trillionaire to renew calls for a wealth tax on the richest Americans as affordability concerns dominate national politics.

“The typical American household would have to work more than 11 MILLION years to make Elon Musk’s level of wealth,” Senator Elizabeth Warren, a Massachusetts Democrat, wrote in a post on X after the opening of trading in SpaceX shares ballooned Musk’s fortune. “We need a wealth tax.”

Senator Elizabeth Warren

Photographer: Samuel Corum/Bloomberg

Representative Ro Khanna, a Democrat who represents a Silicon Valley district that includes venture capitalists who are prominent ...