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'Insane Economics,' Bernie Sanders Says of Musk's Trillionaire Potential
"No society can survive when one man becomes a trillionaire while the working class struggles to survive," the democratic socialist senator said.
Sep 08, 2025
US Sen. Bernie Sanders responded Monday to reporting that the board of electric carmaker Tesla is proposing a compensation package that could elevate CEO Elon Musk—already the world's richest person—from a mere multicentibillionaire to the first trillionaire in history.
Under the proposed package, which was first reported by The New York Times, Musk could add approximately $900 billion to his world-leading $435 billion fortune if Tesla's stock market value is increased to $8.5 trillion from around $1.1 trillion today.
"Another $900 billion for Elon Musk, while 60% live paycheck to paycheck?" Sanders (I-Vt.) asked in a social media post. "Really?"
"This is not only grossly immoral. It is insane economics," argued Sanders. "No society can survive when one man becomes a trillionaire while the working class struggles to survive. This cannot stand."
Another $900 billion for Elon Musk, while 60% live paycheck to paycheck? Really?This is not only grossly immoral. It is insane economics.No society can survive when one man becomes a trillionaire while the working class struggles to survive.This cannot stand.
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— Senator Bernie Sanders (@sanders.senate.gov) September 8, 2025 at 8:57 AM
Sanders—whose "Fighting Oligarchy" tour has drawn huge crowds from coast to coast—has been an outspoken critic of the policies and practices of both major parties under which the rich, and especially the ultrarich, have grown wealthier at the expense of working-class Americans.
"What you are seeing now is an oligarchy with enormous economic power and political power in both political parties," Sanders said at a Saturday rally in Brooklyn for progressive Democratic New York City mayoral nominee Zohran Mamdani. "What we are here tonight to say is, to hell with you. We are going to take you on!"
US economic inequality has been exacerbated by the policies of the Trump administration and congressional Republicans. Although President Donald Trump campaigned on promises to "make America affordable again," upon returning to office he invited Musk to help gut the federal government and has pursued a pro-billionaire agenda under which critical social programs are being sacrificed upon the altar of multitrillion-dollar tax breaks for corporations and oligarchs.
An analysis published last week by the nonpartisan Congressional Budget Office affirmed that the One Big Beautiful Bill Act signed by Trump in July will increase the wealth of the richest 10% of US households by $13,600 annually—largely due to tax cuts—while simultaneously taking about $1,200 annually from the poorest 10% of households, mainly due to cuts in programs including Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
Earlier this month, Americans turned out in cities and towns across the nation for more than 1,000 "Workers Over Billionaires" Labor Day rallies "to reclaim worker power against billionaires who hoard unprecedented wealth and power."
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Trump Admin Circulating Plan to Transform Depopulated Gaza Into High-Tech Cash Cow
Under the proposal, the US would take control after "voluntary" relocation of Palestinians from the strip, where proposed projects include an Elon Musk Smart Manufacturing Zone and Gaza Trump Riviera & Islands.
Sep 01, 2025
The White House is "circulating" a plan to transform a substantially depopulated Gaza into US President Donald Trump's vision of a high-tech "Riviera of the Middle East" brimming with private investment and replete with artificial intelligence-powered "smart cities."
That's according a 38-page prospectus for a proposed Gaza Reconstitution, Economic Acceleration, and Transformation (GREAT) Trust obtained by The Washington Post and published in a report on Sunday. Parts of the proposal were previously reported by the Financial Times.
"Gaza can transform into a Mediterranean hub for manufacturing, trade, data, and tourism, benefiting from its strategic location, access to markets... resources, and a young workforce all supported by Israeli tech and [Gulf Cooperation Council] investments," the prospectus states.
However, to journalist Hala Jaber, the plan amounts to "genocide packaged as real estate."
Here comes the Gaza Network State.A plan to turn Gaza into a privately-developed “gleaming tourism resort and high-tech manufacturing and technology hub” with “AI-powered smart cities” and “Trump Riviera” resortgift link:wapo.st/4g2eATo
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— Gil Durán (@gilduran.com) August 31, 2025 at 10:18 AM
The GREAT Trust was drafted by some of the same Israelis behind the controversial Gaza Humanitarian Foundation (GHF), whose aid distribution points in Gaza have been the sites of deliberate massacres and other incidents in which thousands of aid-seeking Palestinians have been killed or wounded.
According to the Post, financial modeling for the GREAT Trust proposal "was done by a team working at the time for the Boston Consulting Group"—which played a key role in creating GHF. BCG told the Post that the firm did not approve work on the trust plan, and that two senior partners who led the financial modeling were subsequently terminated.
The GREAT Trust envisions "a US-led multirlateral custodianship" lasting a decade or longer and leading to "a reformed Palestinian self-governance after Gaza is "demilitarized and de-radicalized."
Josh Paul—a former US State Department official who resigned in October 2023 over the Biden administration's decision to sell more arms to Israel as it waged a war on Gaza increasingly viewed by experts as genocidal—told Democracy Now! last week that Trump's plan for Gaza is "essentially a new form of colonialism, a transition from Israeli colonialism to corporate" colonialism.
The GREAT Trust contains two proposals for Gaza's more than 2 million Palestinians. Under one plan, approximately 75% of Gaza's population would remain in the strip during its transformation. The second proposal involves up to 500,000 Gazans relocating to third countries, 75% of them permanently.
The prospectus does not say how many Palestinians would leave Gaza under the relocation option. Those who choose to permanently relocate to other unspecified countries would each receive $5,000 plus four years of subsidized rent and subsidized food for a year.
The GREAT Trust allocates $6 billion for temporary housing for Palestinians who remain in Gaza and $5 billion for those who relocate.
The proposal projects huge profits for investors—nearly four times the return on investment and annual revenue of $4.5 billion within a decade. The project would be a boon for companies ranging from builders including Saudi bin Laden Group, infrastructure specialists like IKEA, the mercenary firm Academi (formerly Blackwater), US military contractor CACI—which last year was found liable for torturing Iraqis at the notorious Abu Ghraib prison—electric vehicle manufacturer Tesla, tech firms such as Amazon, and hoteliers Mandarin Oriental and IHG Hotels and Resorts.
Central to the plan are 10 "megaprojects," including half a dozen "smart cities," a regional logistics hub to be build over the ruins of the southern city of Rafah, a central highway named after Saudi Crown Prime Mohammed bin Salman—Saudi Arabia and other wealthy Gulf states feature prominently in the proposal as investors—large-scale solar and desalinization plants, a US data safe haven, an "Elon Musk Smart Manufacturing Zone," and "Gaza Trump Riviera & Islands" similar to the Palm Islands in Dubai.
In addition to "massive" financial gains for private US investors, the GREAT Trust lists strategic benefits for the United States that would enable it to "strengthen" its "hold in the east Mediterranean and secure US industry access to $1.3 trillion of rare-earth minerals from the Gulf."
Earlier this year, Trump said the US would "take over" Gaza, American real estate developers would "level it out" and build the "Riviera of the Middle East" atop its ruins after Palestinians—"all of them"—leave Palestine's coastal exclave. The president called for the "voluntary" transfer of Gazans to Egypt and Jordan, both of whose leaders vehemently rejected the plan.
"Voluntary emigration" is widely considered a euphemism for ethnic cleansing, given Palestinians' general unwillingness to leave their homeland.
According to a May survey by the Palestinian Center for Policy and Survey Research, nearly half of Gazans expressed a willingness to apply for Israeli assistance to relocate to other countries. However, many Gazans say they would never leave the strip, where most inhabitants are descendants of survivors of the Nakba, the ethnic cleansing of more than 750,000 Palestinians during the creation of Israel in 1948. Some are actual Nakba survivors.
"I'm staying in a partially destroyed house in Khan Younis now," one Gazan man told the Post. "But we could renovate. I refuse to be made to go to another country, Muslim or not. This is my homeland."
The Post report follows a meeting last Wednesday at the White House, where Trump, senior administration officials, and invited guests including former UK Prime Minister Tony Blair, investor and real estate developer Jared Kushner—who is also the president's son-in-law—and Israeli Minister of Strategic Affairs Ron Dermer discussed Gaza's future.
While Dermer reportedly claimed that Israel does not seek to permanently occupy Gaza, Israeli leaders including Prime Minister Benjamin Netanyahu—who is wanted by the International Criminal Court for alleged crimes against humanity and war crimes including murder and forced starvation in Gaza—have said they will conquer the entire strip and keep at least large parts of it.
"We conquer, cleanse, and stay until Hamas is destroyed," Israeli Finance Minister Bezalel Smotrich recently said. "On the way, we annihilate everything that still remains."
The Israel Knesset also recently hosted a conference called "The Gaza Riviera–from vision to reality" where participants openly discussed the occupation and ethnic cleansing of the strip.
The publication of the GREAT Trust comes as Israeli forces push deeper into Gaza City amid a growing engineered famine that has killed at least hundreds of Palestinians and is starving hundreds of thousands of more. Israel's 696-day assault and siege on Gaza has left at least 233,200 Palestinians dead, wounded, or missing, according to the Gaza Health Ministry—whose casualty figures are seen as a likely undercount by experts.
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I'm a Veteran of Organized Auto Boycotts. My Advice to Tesla? Dump Musk
During the Great Recession, I organized a Toyota boycott that accidentally paved the way for Musk’s rise. Musk probably won’t tell that story, so I will.
Jul 03, 2025
Elon Musk's alliance with Donald Trump may be over for now, but the Tesla brand has yet to recover from Musk's high profile foray into far-right politics.
Tesla stock has plummeted precipitously ever since Musk’s embrace of Donald Trump last year. It’s been enough to alarm board members, who are now considering replacing Musk as CEO as public “Tesla Takedown” protests have spread across the country.
Ironically, Musk himself was the beneficiary of a similar boycott years ago — a boycott I ran. And since Musk himself is unlikely to relay the story, I will.
In the aftermath of the 2008 market collapse, Toyota announced plans to shutter its Fremont, California factory and move production to Japan, Canada, Mexico, and Mississippi. Not surprisingly, outrage ensued. Soon after, I received a call from the incoming United Auto Workers president Bob King, who asked me to devise a campaign to challenge the Toyota closing.
For Toyota, it was about abandoning California. For Musk, it’s been about dismantling our government and attacking union rights, among other misdeeds.
The strategy we landed on was to reframe this struggle from one borne by workers alone to one that emphasized the broader damage to California’s economy that the closure would cause.
Back then in California, one of every four vehicles sold was a Toyota. As the New York Times’ Bob Herbert wrote in 2010, the U.S. was “the largest market for Toyota vehicles in the world, larger even than Japan.” And the Corolla, built at the Fremont facility, was “the best-selling car of all time.”
But it was that very success that made them vulnerable.
We knew Fridays, Saturdays, and Sundays were the prime sales days for most car dealerships. We dispatched our ground troops to cover those three days of the week, in shifts of 8 to 10 people, to 50 dealerships in California and 50 more throughout the United states, holding banners proclaiming, “Toyota Kills California Jobs.”
The company’s sales managers panicked, with several complaining to me personally that their sales were hurting. On April 1, 2010, Toyota shuttered the Fremont factory as they had previously announced, but our boycott continued.
Two weeks later, faced with our ongoing boycott, Toyota president Akio Toyoda, the grandson of the company's founder, called Elon Musk, flew to Los Angeles to meet Musk for dinner, and offered a $50 million cash infusion if Musk would take over the old Fremont plant and hire from the laid off workforce.
Musk had been on the brink of signing a deal to open a Tesla plant in Southern California, but this offer — and the boycott that prompted it — abruptly changed his plans.
Not long after, those Fremont workers were making Teslas instead of Toyotas — and employment at the plant has skyrocketed from 4,700 then to over 20,000 today. Musk went on to become the world’s wealthiest man.
Now, Toyota president Akio Toyoda wasn’t exactly like today’s Musk when it comes to public notoriety. But there are some striking similarities between the two cases.
Both car companies claim to be leaders of environmentally sustainable transportation. Like the Prius before it, a drive through any upscale retail parking lot from Los Angeles to New York City today will similarly show a high proportion of Tesla sedans, bought during less fraught times by environmentally conscious consumers.
And both companies have suffered from a strong sense of betrayal among their most loyal customer base. For Toyota, it was about abandoning California. For Musk, it’s been about dismantling our government and attacking union rights, among other misdeeds.
Today, the cratering of Tesla’s stock value, coinciding with nationwide anti-Musk protests at Tesla dealerships, reinforces two important truisms fundamental to a free market: public opinion of brands still affects stock value, and a CEO's behavior can trigger lasting backlash against their brand.
So as the organizer of the boycott that accidentally helped along Musk’s rise to prominence, what’s my advice for the Tesla board today? Make Musk divest his shares and move on.
It’s likely that nothing else will quell these protests.
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