Tesla Inc (NASDAQ: TSLA) CEO Elon Musk would owe about $4.6 billion. In a statement this week, Warren said the Ultra-Millionaire Tax Act would help offset the widening of the wealth gap during the pandemic. Soaring stock prices have increased billionaire wealth by about 40% since the COVID-19 crisis began, Warren said. In an interview on CNBC on Tuesday, Warren said the tax wouldn’t include any individual assets valued at less than $50,000. “I think most people would rather be rich and pay 2 cents. This is not very fancy. It really is a tax on fortunes above $50 million,” Warren said. Economists estimate the proposed tax would impact fewer than one in 1,000 American families, or less than 0.1% of the wealthiest Americans.