🔥 WHAT ACTUALLY HAPPENED?
Elon Musk has come out swinging against Donald Trump's new tax and spending proposal — called the "One Big Beautiful Bill" — slamming it on X (formerly Twitter) as a "disgusting abomination." Musk criticized the plan for gutting EV incentives and potentially adding to the national debt, calling it reckless and short-sighted.
Trump didn’t hold back. In a fiery response, he took aim at Musk personally, threatening to cut off federal contracts to Musk’s companies — including SpaceX and Tesla — if he keeps opposing the bill. The former president called Musk “ungrateful” and “disloyal.”
The clash has rattled investors. Tesla shares dropped sharply following the exchange, wiping out billions in market value. Musk didn’t let up, even teasing the idea of starting a new political party and criticizing Trump’s leadership.