DONALD TRUMP & ELON MUSK "The BROMANCE is OVER" !!!
CEO Elon Musk and President Trump escalated. Trump eventually threatened to slash government contracts and subsidies key to Musk's various business interests, and the Tesla CEO replied that SpaceX would immediately decommission its Dragon spacecraft.
Thursday's spat gained speed when Trump told reporters in the Oval Office he was "disappointed" in Musk, while Musk argued on X — the social media platform that he owns — Trump wouldn't have won the White House without his support.
"The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!" Trump wrote on Truth Social.
TESLA Stock is DOWN !!!
Tesla stock fell 14.26% on Thursday when all was said and done, the stock's biggest drop since March and its second-worst day since September 2020. The company's market capitalization fell by more than $150 billion, the most on record.
Thursday's events mark a sharp departure from a relationship that has been one of the defining features of Trump's second term in office.
Musk threw his support behind Trump in the summer of 2024 and became one of the president's staunchest public supporters, eventually leading to a flood of support for Trump from the tech and venture worlds that had largely shunned him during his first term in office.
Musk had helped form and lead the Department of Government Efficiency (DOGE), aimed at cutting government costs. Late last month, Musk formally left his post in the Trump administration, opting to turn his attention back to Tesla and his various business interests, which include SpaceX and xAI, the former of which works closely with the US government and has won billions in government contracts.
Tesla stock fell 14.26% on Thursday when all was said and done, the stock's biggest drop since March and its second-worst day since September 2020. The company's market capitalization fell by more than $150 billion, the most on record.
Thursday's events mark a sharp departure from a relationship that has been one of the defining features of Trump's second term in office.
Musk threw his support behind Trump in the summer of 2024 and became one of the president's staunchest public supporters, eventually leading to a flood of support for Trump from the tech and venture worlds that had largely shunned him during his first term in office.
Musk had helped form and lead the Department of Government Efficiency (DOGE), aimed at cutting government costs. Late last month, Musk formally left his post in the Trump administration, opting to turn his attention back to Tesla and his various business interests, which include SpaceX and xAI, the former of which works closely with the US government and has won billions in government contracts.
Donald Trump - "I'm Very DISAPPOINTED with ELON"
"I'm very disappointed, because Elon knew the inner workings of this bill better than almost anybody sitting here, better than you people," Trump said to reporters in the Oval Office on Thursday. "All of a sudden, he had a problem, and he only developed the problem when he found out that we're going to have to cut the EV mandate."
"Elon and I had a great relationship. I don't know if we will anymore. I was surprised," Trump added.
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