The top ten billionaires in the United States earn about $1 billion a day, and Trump's tax cut plan may create the first trillionaire!
The wealth of the top ten billionaires in the United States has grown rapidly. According to a report from the global charity Oxfam, from the end of April 2024 to the end of April 2025, the combined wealth of the top ten billionaires in the U.S. increased by $365 billion, averaging an increase of about $1 billion per day.
Trump's tax cut plan, known as the Tax Cuts and Jobs Act, was signed by Trump on December 22, 2017, and took effect in January 2018. This plan reduced the corporate income tax rate from 35% to 21%, lowered most individual income tax rates, and doubled the exemption for the estate tax. These policies may benefit the wealthy in accumulating wealth, with some analyses suggesting that the plan will make the rich even richer. A report from the British research organization Informa Connect Academy indicates that Musk is expected to become the world's first trillionaire by 2027.
Additionally, Trump is promoting a new tax cut plan called the "Beautiful Big Plan," which includes extending the tax cut policies from his first term and exempting tips in the service industry from taxation. Some lawmakers and experts believe this is a gift to the wealthy that will further exacerbate wealth inequality.
