Musk responded to Senator Bernie Sanders's call for a 5% wealth tax on the ultra-wealthy, arguing that most billionaires are cash-poor with the vast majority of their funds tied up in assets like stocks. Musk stated on X this week that his stake in SpaceX and Tesla comprises over 99% of his fortune, with cash holdings less than 0.1% of his net worth. Sanders had previously highlighted Musk's wealth, noting he owns more than the bottom half of Americans combined. Musk emphasized that his companies' success boosts the US economy and benefits all shareholders, including retirement programs. Other billionaires like Mark Cuban and Mr. Beast have echoed similar sentiments, pointing out that wealth taxes may not be an efficient way to raise significant revenue for national debt.