Zohran Mamdani Pushes Tax on Rich After Elon Musk Becomes Trillionaire
Business Insider • • general
Key Points:
- New York City Mayor Zohran Mamdani used Elon Musk's achievement as the world's first trillionaire, following SpaceX's IPO, to advocate for taxing the wealthy.
- SpaceX's stock debuted at $135 per share and quickly rose to $150, propelling Musk's net worth far beyond other billionaires like Google's Larry Page.
- Mamdani, a progressive who campaigned on taxing the rich, linked Musk's newfound wealth to the need for policies like New York City's pied-à-terre tax on luxury second homes.
- Musk has previously opposed Mamdani politically, supporting Gov. Andrew Cuomo in the recent New York mayoral race.