Emmanuel Saez

Elon Musk became the world's first trillionaire through the SpaceX IPO, highlighting growing wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth in 2025, driven by stock market gains and Trump-era policies. Economists attribute this trend to tax cuts and corporate profit distribution shifts.

Elon Musk became the world's first trillionaire following SpaceX's IPO, highlighting growing wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth by 2025, driven by stock market gains and policies under President Donald Trump. Economists attribute the trend to tax cuts and corporate profit distribution shifts.

Elon Musk became the world's first trillionaire following the SpaceX IPO, highlighting accelerating wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth by 2025, driven by stock market gains and policies under President Donald Trump, which critics argue exacerbate inequality.

Elon Musk became the world's first trillionaire following the SpaceX IPO, highlighting a U.S. trend of accelerating wealth concentration since 2022. The top 1% of Americans held 31.9% of the nation's wealth by 2025, driven by stock market gains and pro-business policies under President Donald Trump.

Elon Musk became the world's first trillionaire following the SpaceX IPO, exemplifying the accelerating wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth by 2025, driven by stock market gains and pro-business policies linked to Donald Trump's tax cuts.

Elon Musk became the world's first trillionaire through the SpaceX IPO, highlighting wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth in 2025, up from 22.5% in 1990, driven by stock market gains and Trump-era policies. Economists like Thomas Piketty link this trend to policy choices and warn of historical parallels to pre-Great Depression inequality.

Elon Musk became the world's first trillionaire through the SpaceX IPO, highlighting accelerating wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth by 2025, a record since 1989, driven by stock market gains and Trump-era policies. Economists like Thomas Piketty and Emmanuel Saez link this trend to lax tax policies and corporate profit distribution.

Economists Gabriel Zucman and Emmanuel Saez are advocating for a tax on billionaires' fortunes in California, as highlighted at a Los Angeles rally on April 27, 2026.