Imagine telling the Catholic Church, you're really good at amassing money to help people, but we think you're doing it in a way that we think is bad, because religion causes people to judge others, so we're going to take your assets so we can do it in the way we think is best.
Elon's wealth is a representation of control over companies doing business in a variety of different domains. It is not cash. When he sold $20 billion of Tesla stock to buy Twitter the stock crater $450 billion in value, the vast majority of which was not his own. If he sells, other people lose money. A non-insignificant portion of the value of Tesla is derived from the fact he holds and does not sell the stock, another non-insignificant portion of it is that he runs the business well, has a vision of how it should progress, and possesses control over the decisions the company makes. That is true for every company he runs, value derived from his involvement and competence.
When people say he should not have that much wealth, they are saying he should not possess decision making control over those companies. When they say he should be taxed on his wealth, they are saying that the government should force him to sell his decision making power to fund managers who will narrow the horizon of what they concern the business with (i.e. more short term profit maximization) and then the government will decide what to do with the proceeds.
A short, non-exhaustive list, of what his companies are doing:
-Attempting to cure blindness (43 million people)
-Attempting to cure deafness (70 million people)
-Attempting to cure parkinsons (10 million people)
-Attempting to cure paralysis (16 million people)
-Restore functionality to amputees (60 million people)
-Attempting to reduce emissions from auto transportation (10's of thousands of early deaths annually)
-Attempting to improve the viability of renewal energy, reducing energy costs
-Attempting to solve autonomous driving (>1 million deaths a year, significant contributor to cost of goods people buy)
-Attempting to create a fully re-usable rocket that dramatically reduces the cost of access to space and allows for global internet connectivity that ensures people in remote areas have access to information, and the ability to communicate with others. i.e. impoverished nations gain access to education opportunities, and individuals lost in the wilderness/lost at sea/in accidents have access to contact emergency services.
Call me crazy, but I'm ok with his "wealth" (aka control over companies) if they achieve those things.
