Why do you think I'll have the formula for volume?
Ok, here goes:
Your outside area is going to be 24" x 24", minus the cutout of .5*(16" x 16"), which equals 448 square inches.
Its actually going to be slightly less due to the thickness of the glass, but this is close enough for an estimate.
Based on 231 cubic inches = 1 gallon, for each inch of height, you'll gain 448/231 = 1.94 gallons, which I'd round down to 1.9 for the 'glass loss.'
So if you want 50 gallons, you're going to have to go at least 26" tall (50/1.9). Add an inch or two for the fact the tank won't be full to the rim and you'll have a piece of glass on the bottom.
24", which might be easier to buy, minus 1" for top and bottom, would give you ~43 gallons, which isn't much less.