As of June 6, 2025, the once-strong alliance between Elon Musk and President Donald Trump has devolved into a public and politically charged feud, with significant implications for financial markets, particularly Tesla stock and Bitcoin.
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The Rise and Fall of the Trump-Musk Alliance
Initially, Elon Musk and Donald Trump shared a complex relationship marked by initial disagreements, growing political alliance, and eventual public fallout. Musk joined Trump's administration as head of the Department of Government Efficiency (DOGE), aiming to slash federal spending and modernize government operations. However, Musk resigned from DOGE in May 2025, citing disagreements over Trump's proposed "Big Beautiful Bill," which Musk criticized for increasing the national deficit by $2.5 trillion, despite cutting federal health and energy programs.
The conflict escalated when Musk publicly agreed with a social media suggestion that Trump should be impeached and replaced by Vice President JD Vance. Musk also accused the Trump administration of withholding documents related to Jeffrey Epstein, potentially implicating the president.
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Financial Market Impact
Tesla (TSLA)
Tesla's stock has experienced significant volatility amid the feud. After initial gains following Trump's election victory, Tesla shares have fallen 15%, marking its worst day since the COVID-19 pandemic. The decline is attributed to investor concerns over potential termination of government contracts and subsidies, as Trump suggested ending government support for Musk's companies to save "Billions and Billions of Dollars" in the national budget.
As of the latest data, Tesla Inc (TSLA) is trading at $284.70, down $47.23 (-14.22%) from the previous close. The stock reached an intraday high of $329.89 and a low of $273.60.
Bitcoin has also been affected by the political turmoil. Initially, Bitcoin surged to an all-time high of nearly $76,000 following Trump's election victory, as investors anticipated favorable policies for cryptocurrencies. However, the ongoing feud and market uncertainty have led to a decline.
Currently, Bitcoin is trading at $101,495.00, down $3,412.00 (-3.25%) from the previous close, with an intraday high of $105,888.00 and a low of $100,781.00.
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Broader Implications
The Musk-Trump feud has broader implications beyond Tesla and Bitcoin. Trump Media & Technology Group shares fell 8% after Musk insinuated that Trump was in the "Epstein files." Additionally, Trump's cryptocurrency, $TRUMP , fell 12%
The public breakdown in their relationship highlights the growing divide between prominent conservative figures and raises questions about the future of their political and business alliances.
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