Departing Amazon CEO Jeff Bezos would have paid $5.7 billion in wealth taxes for 2020, the ATF and IPS said. At the end of 2020, he had a fortune of $191.2 billion, per data from Forbes.Washington legislators have also proposed a 1% tax on the state's billionaires. Bezos would pay almost $2 billion a year under this tax.Elon Musk, the tech billionaire behind Tesla, SpaceX, Neuralink, and the Boring Company, would have paid $4.6 billion 2020 under Warren's proposal, the ATF and IPS said.At the end of 2020, Musk's real-time worth was $153.5 billion ,after his wealth increased more than six-fold in 10 months, per Forbes data.Microsoft founder Bill Gates, who had a fortune of $120 billion by December 2020, per Forbes, would have paid $3.6 billion in wealth taxes for the year, the ATF and IPS said.Facebook CEO Mark Zuckerberg would have paid around $3 billion in wealth taxes for 2020, the ATF and IPS said. As the end of 2020, he was worth $99.9 billion, according to Forbes.An Oxfam report found billionaires' wealth increased by $3.9 trillion between March and December 2020 globally. The increase for the world's 10 richest billionaires could pay for everyone to get vaccinated and stay out of poverty, Oxfam said. In the second half of 2020, meanwhile, 8 million Americans fell into poverty.Wealth taxes could be a good option to reverse this, Oxfam said. In December, academics published a study of 50 years of tax cuts for the wealthy which suggested trickle-down economics makes inequality worse and doesn't lead to economic growth and employment.Skyrocketing billionaire wealth in the midst of a health and economic crisis weighing down millions of Americans is one of the best reasons for enacting the Ultra-Millionaire Tax Act, Frank Clemente, executive director of Americans for Tax Fairness, said.This legislation will narrow the nation's destabilizing wealth gap while raising trillions of dollars from billionaires and the other super-rich.Argentina became the first country to respond to the pandemic with a one-off millionaire tax. Fewer than one in 100 earners will pay the tax, which the government hopes will raise $3.78 billion to help pay for its pandemic response.