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Nov. 16, 2019, 3:05 p.m. EST

This is what the net worth of the world’s elite would look like if Elizabeth Warren’s tax plan had been in effect since 1982

Lloyd Blankfein: ‘Maybe tribalism is just in her DNA’

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By Shawn Langlois, MarketWatch


MarketWatch photo illustration/Getty Images, Bloomberg

Don’t worry, they’d still be doing just fine.

That’s not to say the uber wealthy wouldn’t get torched by Elizabeth Warren’s tax plan, but even if her proposal were in place for decades, the fortunes of men like Amazon’s /zigman2/quotes/210331248/composite AMZN +4.53% Jeff Bezos and Microsoft /zigman2/quotes/207732364/composite MSFT +1.87% founder Bill Gates would still be intact, according to TaxJusticeNow.org , a website founded by UC Berkeley economists Emmanuel Saez and Gabriel Zucman.

In fact, here’s a look at what the net worth of these guys would be today if Warren’s plan to levy a billionaire tax had been in place since 1982:

Gates drew laughs last week when he jokingly told a conference in New York that he’s “starting to do a little math” to figure out what he would have left over if he were to get hit with a $100-billion tax. Well, good news, Bill, it wouldn’t be nearly that much if these numbers are any indication.

As you can see, Gates would be down to his last $42.2 billion, Bezos would have less than $100 billion to his name and Berkshire Hathaway’s /zigman2/quotes/208872451/composite BRK.A +2.31% Warren Buffett would have to get by on just $34.9 billion.

Read: Mark Cuban shreds Warren’s tax plan

What would that mean for the trend of the rich getting richer and leaving everybody else behind? Better, but still, this chart tells that story:

No wonder billionaires like Leon Cooperman have tears in their eyes. Oh, and Warren has something for that, too:

For just $25, as the campaign advertisement cheekily suggests, you can “Savor a warm, slightly salty beverage of your choice in this union-made mug as you contemplate all the good a wealth tax could do: universal childcare, student debt cancellation, universal free college, and more.”

Meanwhile, billionaires like former Goldman Sachs /zigman2/quotes/209237603/composite GS +4.58% Chairman Lloyd Blankfein, continue to feud with Warren in the public arena:

/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,021.28
+130.98 +4.53%
Volume: 4.84M
July 6, 2020 2:25p
P/E Ratio
143.97
Dividend Yield
N/A
Market Cap
$1441.61 billion
Rev. per Employee
$359,671
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 210.12
+3.86 +1.87%
Volume: 20.37M
July 6, 2020 2:25p
P/E Ratio
35.02
Dividend Yield
0.97%
Market Cap
$1564.16 billion
Rev. per Employee
$902,473
loading...
/zigman2/quotes/208872451/composite
US : U.S.: NYSE
$ 273,730
+6,179 +2.31%
Volume: 414.00
July 6, 2020 2:06p
P/E Ratio
45.75
Dividend Yield
N/A
Market Cap
$434.08 billion
Rev. per Employee
$637,113
loading...
/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 206.44
+9.04 +4.58%
Volume: 2.30M
July 6, 2020 2:25p
P/E Ratio
11.24
Dividend Yield
2.42%
Market Cap
$67.88 billion
Rev. per Employee
$1.34M
loading...

Shawn Langlois is an editor and writer for MarketWatch in Los Angeles. Follow him on Twitter @slangwise.

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