On June 11th, 2026, the day before SpaceX went live, Forbes had Elon Musk’s net worth at $826 billion. By the end of trading on June 12, the consensus estimate was that Musk was worth approximately $1.1 trillion.
Needless to say, the increase in Musk’s net worth led to inflation rising by double digits, the eviction of thousands across the country, and the shuttering of countless soup kitchens.
I don’t know how many puppies it killed but I’m sure it was a lot. The Left would have us believe that Musk’s wealth is obscene.
“No one should be a billionaire” is a rallying cry of the far left. Or in AOC’s words “You can’t earn a billion dollars.” Interesting turn of phrase given that the money used to pay her salary is stolen from taxpayers.
You might take issue with my use of the word “stolen” but ask yourself this, would you pay her salary if you didn’t have to? Didn’t think so. “Stolen” it is. She also doesn’t seem to have a problem with Oprah or Taylor Swift either.
This is odd if you look at the economic contributions of the three. Musk’s companies employ between 160,000-165,000 people. Together Oprah and Swift employ about 500 people. It’s less odd if you look at their voting records.
Musk was briefly part of the Trump administration. The other two vote Democrat. That’s not the entire reason, but it gives you something to think about.
So why is Musk a target?
Villainizing the super-rich while advocating wealth taxes is what it’s always been, an attempt by communists to gain more power. Ok, they’re not really communists, so we’ll play the game leftists like to play and borrow on of their favorite adjectives, they’re “communist-adjacent.”
They don’t produce; they take.
This type of argument, like all communist propaganda, is attractive to three types of people: the envious, the gullible, and the ignorant.
Envy: “Elon Musk is a trillionaire and I’m not.”
Maybe they could. But they wouldn’t.
Gullibility: “If you give us his money, we’ll fix all your problems. I promise!” Who does that remind me of?’ Oh ya.
Let’s face it, if paying taxes solved problems we wouldn’t have any problems. Giving the government more money just means more government waste.
The Federal budget has increased by approximately 59% since 2019. Does it feel like the American government is 59% better?
Ignorance: “The rich don’t pay their fair share!” This is just not true.
In New York City, where The Top 1% pay roughly 40–48% of all NYC income taxes, its communist mayor made “tax the rich” a central part of his platform and governing agenda because “they can afford more.”
Deciding what is affordable is easy when you’re spending someone else’s money.
It’s not like NYC has been paying its own way anyway anyway. Almost 25% of NYC revenues are paid by people who don’t even live there.
“The rich don’t pay their fair share!” also fails to consider what Musk’s companies are doing for society in general. In addition to providing 160,000-165,000 with good jobs, his employees are paying about $4.5-5.5 billion per year in taxes.
Politicians promise, take, fail to deliver, and then demand more.
Entrepreneurs generate wealth. For themselves, for their employees, for investors, and yes, even for the government. The interesting thing about Musk’s wealth is that people chose to give him their money. Sorry, that’s not quite right, they chose to invest in his company.
The stock market is the ultimate form of freedom. You participate only if you want to. I buy a stock from someone who wants to sell it because I think it will go up and they think it won’t. I’m not forced to buy it, and they’re not forced to sell it.
Contrast this with how taxes work. Last year the government took about 30% of what you earned so that they could give it to someone else. Yes, I’m exaggerating. A little. No, I don’t think we should get rid of taxes.
We need them to pay for vital services like the military, border control, and UFC fights on the White House lawn. I’d love it if there was some government accountability though. Of course, I’d also love a trillion dollars in my bank account.
Both seem equally likely.
About the Author
Phil is a freelance writer, Canadian Navy veteran, and classical liberal. He has lived and worked in both Canada and the United States and currently resides in Vancouver, British Columbia, where he writes on politics, individual rights, free speech, and whatever else catches his fancy.
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