The public feud between has escalated, impacting both political dynamics and financial markets.
Key Developments:
Legislative Dispute: The conflict began when Musk criticized Trump's "One Big Beautiful Bill Act," labeling it a "disgusting abomination" due to its cuts to electric vehicle subsidies and increased immigration enforcement funding.
Personal Allegations: Musk alleged that Trump's name appears in the Jeffrey Epstein files, suggesting this as a reason for their lack of full public release.
Government Contracts Threatened: In response, Trump threatened to terminate federal contracts with Musk's companies, including SpaceX and Tesla.
Market Impact: The feud has led to significant market reactions, with Tesla shares dropping over 14%, erasing $152 billion in value.
This ongoing dispute underscores the volatility that personal and political conflicts can introduce into the financial markets, particularly affecting companies like Tesla and SpaceX that are closely tied to government contracts.