On Wednesday, the combined net worth of Elon Musk and Jeff Bezos was close to 500 billion U.S. dollars, thanks to the continued rise of Tesla’s stock and the widespread surge in technology stocks, which boosted the Nasdaq 100 The index set an intraday record.

The value of these two fortunes-the sum of which is greater than the market value of Johnson & Johnson and approximately equal to the market value of JPMorgan Chase & Co., the largest bank in the United States-is another watershed moment for billionaires that is about to become a historic week.

On Wednesday morning, Senate Treasury Chairman Ron Wyden (Ron Wyden) proposed a groundbreaking proposal to tax billionaires on unrealized gains, but it was announced in detail in negotiations a few hours later. Wyden insisted that the billionaire’s tax plan is not over, but negotiations have turned to a possible 3% surcharge on people earning more than $10 million—above the highest income tax rate. On Wednesday, the total net assets of Elon Musk and Jeff Bezos were close to 500 billion U.S. dollars, thanks to the continued rise of Tesla’s stock and the widespread surge in technology stocks, which made the Nasdaq 100 index hit a record In the record.

The value of these two fortunes—the sum is greater than the market value of Johnson & Johnson and roughly equal to the market value of JPMorgan Chase, the largest bank in the United States—is another watershed moment for billionaires that is about to become a historic week. On Wednesday morning, Senate Treasury Chairman Ron Wyden announced in detail a groundbreaking proposal to impose a tax on unrealized gains on billionaires, but it was rejected in negotiations a few hours later.

Wyden insisted that the billionaire’s tax plan is not over, but negotiations have shifted to a possible 3% surcharge on people earning more than $10 million above the highest income tax rate.

News Source : Business Standard