Sen. Ron Wyden’s son criticized his father over his proposal to tax billionaires in a bizarre exchange involving Tesla founder Elon Musk.
Adam Wyden, the Oregon Democrat’s adult son, chimed in on a strange back and forth about taxes over the weekend that featured Musk, the world’s wealthiest person, making a crass remark about the elder Wyden’s appearance.
The spat began after Musk polled his followers on whether he should sell more than $20 billion worth of Tesla stock as a response to the senator’s push to tax the unrealized capital gains of billionaires. Ron Wyden used Musk’s tweet to promote his policy proposal.
“Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll. It’s time for the Billionaires Income Tax,” he wrote.
After Musk crudely mocked the senator’s profile picture, Adam Wyden, a successful investor and the founder of Miami-based ADW Capital Partners, piled on.
“Why does he hate us / the American dream so much?!?!?!?!” Adam Wyden wrote. “Reality is: most legislators have never built anything… so I guess it’s easier to mindlessly and haphazardly try and tear stuff down.”
“Thankfully, I think I can compound faster than my dad and his cronies can confiscate it,” he added before listing several stock ticker symbols.
Adam Wyden confirmed to the Washington Examiner over email on Monday that the Twitter account was indeed his.
Adam Wyden has been a shrewd investor. According to a story in Forbes this year, the younger Wyden has been able to grow his savings and bar mitzvah money into a major fortune and manages a successful $350 million hedge fund .
The elder Wyden, who has long been an advocate of mark-to-market accounting, recently proposed a 23.8% annual tax on billionaires’ unrealized capital gains as a way to pay for the Democratic climate change and social spending package. His proposal was quickly batted down in favor of a proposal to apply a surtax on those earning in excess of $10 million.
Tesla shares sunk on Monday as investors fretted over Musk’s musings about selling 10% of his shares.
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