The feud between President Donald Trump and billionaire Elon Musk escalated on Thursday, with threats of cutting government contracts and backing impeachment flying back and forth between the two powerful figures. The once-close relationship between the two men quickly deteriorated in public view as they exchanged personal attacks on social media platforms like Truth Social and X.
Trump started the hostilities by criticizing Tesla CEO Musk in the Oval Office, leading to a series of fiery exchanges online. Trump threatened to terminate Elon’s government subsidies and contracts, while Musk suggested that Trump should be impeached. This public spat caused Tesla’s stock to plummet by 14.3%, resulting in a loss of approximately $150 billion in market value – the largest single-day decline in the company’s history.
The rift between the two influential figures began brewing days earlier when Musk spoke out against Trump’s tax-cut and spending bill. Despite initially remaining silent, Trump expressed his disappointment in Musk during a press conference, stating that their once-great relationship may be irreparably damaged.
Musk, on the other hand, continued to criticize Trump’s policies and decisions on X, claiming that without his support, Trump would not have won the election. Musk also warned of an impending recession due to Trump’s tariffs and threatened to decommission SpaceX’s Dragon spacecraft in response to Trump’s threats.
However, in a possible sign of de-escalation, Musk later indicated that he would not decommission Dragon and acknowledged suggestions from followers and hedge fund managers to make peace with Trump. The ongoing feud between Trump and Musk has not only caused financial repercussions but has also raised concerns about their impact on government contracts and space programs involving companies like SpaceX and Tesla.
