Donald Trump Elon Musk Fight Shakes Wall Street
Donald Trump Elon Musk fight: In a surprising turn of events, former allies Donald Trump and Elon Musk are now embroiled in a heated public argument. A disagreement over policy has led to an all-out clash between rhetoric. It is on their own respective platforms–Trump’s TruthSocial and Musk’s X (formerly Twitter). What began the night of June 5-6, has currently led today’s trending news.
This high-profile conflict has emerged after a disagreement surrounding a so-called “big beautiful bill” passed by Trump’s administration. The consequences have already trickled down to the markets. Tesla stock dropped 14%, or an incredible $152 billion lost in market value.
The Fallout: What Caused the Conflict?
The bad blood was over a recently passed spending and tax bill that included the repeal of the electric vehicle (EV) mandate, and by nature, impacted Musk’s primary businesses. Trump promoted the bill and said Musk knew what it was about. Musk claimed he did not know and calls Trump a liar. Things escalated quickly from policy issues to personal attacks.
Trump’s Words: “Elon Has Just Gone CRAZY”
President Trump was clear in his language, stating
“Elon just went CRAZY:” Trump said Tesla CEO Elon Musk is upset because throttling back EV mandates will reduce “billion dollar subsidies” for Musk’s companies.
Questioned Musk’s loyalty: Trump said, “I’ve supported him greatly,” implying he was disappointed with Musk’s reaction to his bill.
Threats of change of funding: Trump stated that he would “end every government contracts, and every government subsidy to Musk’s companies,” adding that “Billions and Billions of Dollars,” could be saved.
Trump’s claim that Musk’s anger is based on loss of financial benefits: Trump said that Musk’s anger at the bill, was financial, particularly the loss of EV tax credits.
Trump claimed that he didn’t hear from Musk. He also claimed that Musk knew about the bill and expressed dissent only after he left the administration.
Musk’s Response: “Such Disrespect”
Elon Musk’s reaction was even more intense language. He waged a personal and political assault on Trump:
Labeled Trump a liar: Musk said he never saw the bill, and continued that it was “passed in the dead of night… no one in congress had a chance to read it.”
Claimed Trump’s 2024 victory credit: “If it wasn’t for my influence, he would have lost,” Musk said with authority.
Accused Trump of being ungrateful: He called the President’s comments, “such a lack of gratitude.”
Advocated impeachment: Musk backed an idea for Trump to be impeached and for JD Vance to take his place, to which Musk replied, “Yes.”
Raised Epstein implications: In a serious way, Musk asserted that Trump’s name would be in the Epstein documents that are sealed, and suggested this may be why they haven’t been released.
SpaceX chaos: After warnings regarding his contract with Trump, Musk revealed that he intends to start retiring the SpaceX Dragon spacecraft. He then quickly retracted his statement, admitting, “Good advice.” “We will not retire Dragon.”
Market Shockwaves
Furthermore, the public dispute between the two high-profile figures has had actual economic consequences. After the firestorm of overnight headlines, Tesla’s stock dropped 14%, wiping out $152 billion of its value. Analysts call out investor concerns regarding the future of Musk’s government-related businesses. Particularly in the defense and space sectors, which are very reliant on federal contracts.
Larger Implications for 2024 and Beyond
The divide between Trump and Musk raises questions about some of the more specific internal dynamics of the GOP as we march closer to the 2024 elections. Musk’s technological empire and reach online have allowed him to become an important figure among conservatives. Especially due to his ownership of X. Musk’s distancing from Trump may fracture the conservative base or present an opportunity for other candidates.
At the same time, Trump’s warnings about cutting government ties to Musk’s businesses appear to represent a shift in the Republican positionality. It is regarding the private technology and electric vehicle sectors. This is a remarkable shift in the current political environment.
Therefore, this highly publicized breakdown between Donald Trump and Elon Musk is more than just some celebrity story. It ties into politics, policy, and business, sending ripples through Wall Street and Washington. Now that it has entered the public discourse. It will remain front and center in the trending news today for as long as it unfolds. With millions of people engaged and paying attention to find out who will make the next move — and the backstory behind it.
