Zohran Mamdani reacts to Elon Musk becoming world’s first trillionaire

Zohran Mamdani has weighed in on Elon Musk becoming the world’s first trillionaire, using the historic wealth milestone to reinforce his long-standing support for higher taxes on the ultra-rich.

The New York City mayor responded on X on Friday after Musk’s fortune surged following SpaceX’s highly anticipated initial public offering. The company’s stock debuted at $135 per share before climbing to $150, pushing Musk’s net worth beyond the trillion-dollar mark.

“Reason #1,000,000,000,000 why we should tax the rich,” Mamdani wrote in response to the development.

SpaceX IPO Pushes Musk Past Historic Milestone

Musk was already the world’s wealthiest person before SpaceX went public, but the stock’s first-day performance widened the gap between him and every other billionaire.

The surge left Musk far ahead of the next richest individual, Google co-founder Larry Page, whose fortune now stands at roughly a quarter of Musk’s wealth.

The achievement marks the first time an individual has reached trillionaire status, further cementing Musk’s position at the top of global wealth rankings.

Mamdani’s Tax Agenda

Mamdani’s response was consistent with the progressive platform that helped propel him to City Hall.

During his campaign, he repeatedly advocated higher taxes on wealthy residents and supported measures aimed at increasing contributions from top earners. One of the most controversial policies introduced during his tenure has been New York City’s pied-à-terre tax on multimillion-dollar second homes, which drew criticism from affluent property owners.

His latest remarks suggest Musk’s unprecedented fortune will likely become another talking point in the broader debate over wealth inequality and taxation.

Musk and Mamdani’s Political Relationship

The mayor and the billionaire have frequently found themselves on opposite sides of political debates.

Musk publicly backed former New York Governor Andrew Cuomo during last year’s mayoral race and has previously criticised Mamdani’s political positions.

Despite those disagreements, Mamdani has argued that the pair share at least one common objective: improving efficiency and reducing waste in government.

Last month, the mayor announced the creation of a Commission on Government Efficiency, a city-level initiative that drew comparisons to the Musk-led DOGE office in the White House.

While the two remain political rivals, Mamdani’s latest response shows he is still willing to use Musk’s business success as an example in support of his economic policies.