Trump vs Musk: The Latest Developments
The public feud between Donald Trump and Elon Musk has taken a dramatic turn, with both billionaires trading barbs on social media. Here's a breakdown of the latest developments:
The Feud Escalates
The spat began when Trump criticized Musk in the Oval Office, leading to a war of words on their respective platforms, Truth Social and X. Trump threatened to terminate Elon's governmental subsidies and contracts, claiming it would save billions of dollars. Musk responded by accusing Trump of covering up Epstein files and even suggested that Trump should be impeached ¹.
Potential Reconciliation?
Despite the heated exchange, there are signs that both parties might be open to reconciliation. White House aides have scheduled a call between the two, and Musk signaled on X that he may walk back from the brink. Billionaire investor Bill Ackman also chimed in, suggesting that Trump and Musk should "make peace" for the benefit of the country.
Impact on Tesla's Market Value
The feud has already had a significant impact on Tesla's market value, with shares plummeting over 14% and losing around $150 billion in market value. However, after Politico reported that the two men were scheduled to speak, Tesla's shares pared some of those losses, rising 5% in pre-market European trading.
Key Players React
- *Trump's Response*: Trump appeared unfazed by the escalating feud, stating that his approval ratings are at an all-time high.
- *Musk's Threats*: Musk warned that Trump's signature import tariffs would push the US into a recession and threatened to decommission SpaceX's Dragon spacecraft. However, he later backed off the threat.
- *Republican Strategist's Concerns*: A Republican strategist with ties to Musk and the Trump administration expressed concerns that Musk's withdrawal of campaign support could weaken Republican control in next year's midterm elections.
The outcome of this feud remains uncertain, but one thing is clear: the public spat between Trump and Musk will continue to dominate headlines.