New York City Mayor Zohran Mamdani used SpaceX’s historic IPO — and founder Elon Musk’s newly minted status as a trillionaire — to push policy.
“Reason #1,000,000,000,000 why we should tax the rich,” Mamdani wrote on X in response to Musk becoming the world’s first trillionaire on Friday.
Musk reached the financial milestone after SpaceX stock popped upon hitting the market on Friday, trading at $150 per share, above the company’s initial offering of $135.
Already the world’s richest man, the windfall put Musk leagues ahead of the next richest person, Google’s Larry Page, who now has a quarter of Musk’s wealth.
Mamdani’s response was in line with his politics. The progressive New York City mayor campaigned on taxing the rich, and the city’s new pied-à-terre tax on multimillion-dollar second homes sparked backlash from some rich residents.
Musk has spoken out against Mamdani and backed his challenger, Gov. Andrew Cuomo, in the New York mayoral race last year.
Mamdani has said that he and Musk share one goal: focusing on efficiency and eliminating waste. Mamdani last month announced he was launching a Commission on Government Efficiency, essentially New York City’s answer to the Musk-led DOGE office in the White House.