News > ‘Stupid’ and ‘insane’: Elon Musk, other billionaires vent over proposed US wealth tax

‘Stupid’ and ‘insane’: Elon Musk, other billionaires vent over proposed US wealth tax

Musk, who recently blew past Amazon founder Jeff Bezos as the world No. 1 in wealth thanks to Tesla’s soaring share price, would be liable for perhaps a one-time $50 billion tax hit under the Democratic proposal. Forget it, he says.

“My plan,” the SpaceX founder tweeted Thursday about his fortune, “is to use the money to get humanity to Mars and preserve the light of consciousness.”