The CEO of Tesla (TSLA), Elon Musk, one of Donald Trump's biggest supporters during his electoral campaign, got into a heated discussion with the president on Thursday. The tension in question had a very negative impact on the already shaken markets due to the tariff agenda. Tesla's stock closed Thursday down 14%.
Elon Musk and Trump, who have been friends on camera since American President Donald Trump took office in November, seem to be on the verge of breaking their strong bond. Trump threatened Musk on Thursday to terminate the CEO's government contracts with his companies, while the world's richest man suggested that the U.S. president should face impeachment. This incident caused an unexpected alliance to end abruptly, leaving viewers wondering what will happen next. Musk's businesses include the rocket company and government contractor SpaceX and the satellite unit Starlink. Musk, whose space work plays a crucial role in the U.S. government space program, said he would begin retiring the SpaceX Dragon spacecraft following Trump's threats. The long-standing dispute between the two could make it difficult to maintain the majority of Republicans in Congress in next year's midterm elections, should it lead to cuts in Musk's campaign spending or decreased support for Trump in Silicon Valley. "Elon played a very important role in the last campaign. If he does not run in the midterm elections, that would concern me," said a Republican strategist with ties to Musk and the Trump administration, speaking on condition of anonymity.
On Tuesday, Musk posted a message saying, "We will fire all politicians who betrayed the American people in November." Musk had already stated that he plans to reduce his political spending in the future. Musk's increasing involvement in politics has led to widespread protests at Tesla facilities, hurting sales and raising concerns that he is too distracted.$BTC
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