Raphael Warnock

Democratic Senator Raphael Warnock called Elon Musk’s newly minted trillionaire status “bad news” as the US grapples with growing wealth inequality.

The Georgia Democrat, who described himself as pro-business and pro-worker, told Bloomberg TV the tax system is “structured for people like Musk,” enabling the Tesla and SpaceX founder to accrue his vast wealth.

“He’s not a trillionaire by accident,” said Warnock. “This is a structural issue.”

Warnock said he blamed corporate political donations for influencing tax and other policies that disadvantage US workers, whom he said would be billionaires, too “if they had the subsidies that Elon Musk ...