#TrumpVsMusk Musk–Trump Feud Triggers $26–34 Billion Wealth Wipeout
On June 5, 2025, Elon Musk slammed former President Donald Trump over his proposed “One Big Beautiful Bill,” calling it a "disgusting abomination." Trump fired back, threatening to pull federal subsidies and cancel contracts with Musk’s companies—including $1.2 billion annually in EV tax credits.
Immediate Market Fallout:
Tesla stock plunged 14–14.3%, wiping out $150–153 billion in market value—its worst single-day drop in four years.
Musk’s net worth fell by $26.6–34 billion within hours, one of the largest one-day personal losses in history.
Trump Didn’t Escape Unscathed:
Trump Media & Technology stock dropped ~8%.
His $TRUMP crypto fell ~12%.
Combined losses exceeded $1 billion:
~$202 million in stock
~$900 million in crypto
Why It Matters:
Markets React to Drama – High-profile political clashes can rattle investor confidence.
Big Tech at Risk – Musk’s public stance may trigger regulatory and funding risks for Tesla, SpaceX, and related ventures.
Tensions May Escalate – Trump’s threats could impact Musk’s access to government contracts and subsidies.
Quick Stats:
Tesla drop: ~14%
Market cap lost: ~$150–153 billion
Musk wealth drop: ~$26.6–34 billion
