Progressive politicians are sharpening their attacks against tech tycoon Elon Musk, zeroing in on his soon-to-be-trillionaire status days before his company SpaceX’s record-setting initial public offering.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.Musk, the wealthiest person in the world, is expected to become its first trillionaire when his rocket company begins selling shares to the public as soon as next Friday, June 12.While Musk has already faced intense criticism from Democrats after his chain saw-wielding tenure in the Trump administration, his rise to trillionaire status is making him an even bigger target among politicians who want to highlight the nation’s wealth gap ahead of the midterm elections.“Income inequality is a huge problem in America and having our first trillionaire vividly illustrates the problem,” Darrell West, a senior fellow at the Brookings Institution who researches the subject, said in an email.“This will be an issue in 2026 and 2028.”A trillionaire is someone who has $1,000,000,000,000 or more — or 1,000 times the threshold for a billionaire.
Scientific research says it’s a figure so large and surreal that it’s difficult for humans to put into context.For anyone concerned about rising inequality, it’s no longer just about “millionaires and billionaires” — a catchphrase for progressives for many years.And the latest entry into the political lexicon is spreading quickly online and on the campaign trail.“Nobody should be a trillionaire.
Tax the damn rich,” Rep.Pramila Jayapal, D-Wash., said recently on X.Sen.
Bernie Sanders, I-Vt., said at a rally in Maine last month that Musk is “going to get even richer, I think, in the next couple of weeks” and that it was “insanity” for him to have so much wealth.Mallory McMorrow, a state lawmaker in Michigan who’s running in the Democratic primary for the U.S.Senate, called out Musk at a candidate f...