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Almost 40,000 Robinhood accounts added shares of Tesla during a single four-hour span on Monday. All told this year, Tesla’s market cap has surged by $202 billion, pushing Elon Musk past Warren Buffett in rankings of the world’s wealthiest people and vaporizing shorts who have bet as much as $20 billion that the stock will fall. —David E. Rovella

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Here are today’s top stories

Those amateur investors who loaded up on J.C. Penney shares as the retailer went bankrupt are now pleading with a judge to spare them from a complete wipeout.

Dozens of millionaires from the U.S. and six other countries have a message for their governments: “Tax us. Tax us. Tax us.” Calling themselves the Millionaires for Humanity, more than 80 wealthy individuals, including Walt Disney heiress Abigail Disney, former BlackRock managing director Morris Pearl and Danish-Iranian entrepreneur Djaffar Shalchi, are petitioning for higher taxes on the rich to help pay for new government programs made necessary by the coronavirus pandemic.

Then there’s the other camp. More than half of wealthy investors responding to a UBS survey said they were worried about staying liquid in another pandemic and that they may not have as much cash to pass along their heirs.

California closed indoor dining and bars, and its two biggest school districts said they would offer remote learning only. Infections and deaths continue to climb across the U.S. South and West, and increasingly elsewhere. While New York recorded a day of no coronavirus deaths for the first time in months, there are now signs young people in the Empire State may be stoking new infections. Dr. Anthony Fauci, who has been increasingly criticized by White House officials, reportedly said Monday that local public health care in America is in “tatters” and that the unprecedented surge of infections is attributable to not having shut down the whole country, and then reopening too fast.

The Bank of England is reviewing whether it should create a central bank-backed digital currency. The BOE is part of a group of major central banks that are acknowledging their role is being challenged by new technologies and private sector initiatives such as Facebook’s Libra.

Hedge fund managers who fled Manhattan to work from their second or third homes this year could end up saving millions of dollars, costing an economically smashed New York City. Investment firms that pay the city’s unincorporated business tax may be able to slash their bills because, for the first time, most of their income is being earned elsewhere. 

Wellspring Capital Management Chief Executive Officer Bill Dawson took a leave of absence days after a former employee alleged in a lawsuit that Dawson threatened her for accusing his son of sexual assault.

What you’ll need to know tomorrow

What you’ll want to read tonight in Businessweek

Get Ready for Your Dog’s Separation Anxiety

Dogs have become “overly bonded” to their human companions. They’re more reliant on our presence to stay calm because, for the past four months, we’ve been around all the time. Dogs signal this dependency when they panic after you leave the room or, god forbid, the house. This phenomenon must be addressed now, long before you return to the office, to avoid doggie meltdowns. As for your cat, don’t worry: they will be happy when you’re gone.

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