When SpaceX founder Elon Musk is asked whether he should pay more in taxes, he responds that he can spend $1 billion more efficiently than the government. And after Space X pulled off the first $2 trillion IPO, investors clearly agree with him.

Media and income redistributionists sneer that he just doesn’t want to pay his “fair share.” Whatever that means.

The rule of thumb, supported by empirical research, is that when an inventor invents something or an entrepreneur starts a successful company that sells products people want, about 10% of the benefits go to the inventor or entrepreneur, while 90% go to everyone else: consumers who buy the product, workers employed by the firm, and investors who provide risk capital.

Obvious examples would be Thomas Edison, Steve Jobs, or Sam Walton – all of whom made the world a better place and richer beyond imagination.

So if this rule of thumb is roughly correct, this would mean that Elon has made the world at least $10 trillion richer. That might start with the 5,000 or so people who were made millionaires last week after the IPO.

The fiend!