Efforts to tax billionaires are on life support in the Senate and have even faced resistance from top Democrats like House Speaker Nancy Pelosi.
Ron Wyden's billionaires' tax lasted less than 24 hours before Joe Manchin shot it down. Pelosi was skeptical of it behind closed doors.
Ken Langone said he'll hold "the biggest fundraiser" he's ever had for Sen. Manchin, calling him "precious" for stalling Biden's agenda.
Under Wyden's "billionaires tax," Insider calculates Musk would pay a tax on the $168 billion jump in his net worth this year - close to $40 billion.
Democrats want to tax billionaires on how much their stocks go up, and Musk and some other billionaires don't want that. Now there's a dollar figure.
Musk's net worth ballooned this year to $335 billion as Tesla stock has soared. A 10% sale of his Tesla stake would amount to around $21 billion.
Some lawmakers are pushing to include paid leave, prescription drug price controls, and a tax break for higher-earning Americans.
"My plan is to use the money to get humanity to Mars and preserve the light of consciousness," Musk said of the proposed billionaire's tax.
Tesla CEO Elon Musk would owe up to $50 billion in taxes under the Democratic plan. Amazon founder Jeff Bezos faces $44 billion in taxes.
"Eventually, they run out of other people's money and then they come for you," Musk tweeted at the senator who just drafted a new billionaire tax.