The Billionaire Breakup!

Trump vs. Musk: $150 billion in market value wiped out (Tesla shares)

GM readers. By now, most of you have likely heard about the escalating feud between Donald Trump, president of the world's largest economy, the USA, and his self-proclaimed “First Buddy.” billionaire CEO Elon Musk.

But why?

Elon Musk is furious about Trump’s One Big Beautiful Bill Act of 2025 (OBBBA), calling it a "disgusting abomination" and urging Congress to block it. He believes it will worsen the national debt and hurt taxpayers. His biggest issues: the bill extends Trump’s tax cuts, boosts military spending, and cuts EV incentives—directly impacting Tesla. Experts estimate it could add $3.8 trillion to the debt. While Trump defends it as good for the economy, their feud is heating up as Trump threatened to revoke federal contracts and subsidies benefiting Musk's companies, including Tesla and SpaceX.

War of words!

Trump told reporters he was "very disappointed" in Elon Musk after Musk criticized his "big, beautiful bill" on social media. Musk quickly fired back on X with a "Whatever."

On Truth Social, Trump claimed Musk "went CRAZY" over electric vehicle tax credits and threatened to cancel Musk’s federal contracts.

Musk claimed that Trump would have lost the election without his support and called Trump ungrateful. He even agreed with a user who said Trump should be impeached and removed from office. Elon Musk also announced SpaceX would decommission its NASA spacecraft, which could force the US to rely on Russia for ISS travel. Musk’s tweet claiming Trump’s name is in sealed Epstein records related to human trafficking - took the feud to a whole new level.

What followed? $150 billion in market value wiped out

Tesla shares plunged 14%, wiping out $150 billion in market value, as Elon Musk and Donald Trump clashed publicly.

Musk criticized Trump’s "Big Beautiful Bill", which cuts EV subsidies, hurting Tesla. Trump fired back, accusing Musk of being upset over lost tax benefits.

The feud has spooked investors, raising concerns about Tesla’s future and Musk’s business empire.

While some expect the tension to cool down, others believe this billionaire clash could have lasting effects on politics, business, and Musk’s empire. However, what the feud has done is turned the drama into a pop-cultural event, reshaped in viral posts and sarcastic memes.

Meanwhile, Musk’s Starlink has secured a satellite communications (satcom) license from the Indian government, paving the way for its official launch in the country. That’s something to look forward to!