President Trump criticized Elon Musk on Sunday evening, describing him as "Out of His Mind" after Mr. Musk announced he would form a new political party amid ongoing disagreements with the president.
"I am very sad to see Elon Musk completely 'go off the rails', basically becoming a TRAIN WRECK in the past seven weeks," Mr. Trump wrote on Truth Social on Sunday evening. "He even wants to form a Third Political Party, despite the fact that they have never succeeded in the United States."
Mr. Musk's efforts to establish a new political party called the America Party represent the latest rift in his relationship with Mr. Trump. Mr. Musk, the richest man in the world, has spent hundreds of millions of dollars to support Mr. Trump's presidential campaign, only for Mr. Trump to later reward him with a vast position overseeing substantial cuts to government personnel and contracts.
Their close relationship collapsed in a public spectacle last month when Mr. Trump pushed his expansive domestic policy bill through Congress. Mr. Musk criticized this legislation, which is expected to add trillions to the federal debt, as a "disgustingly appalling thing."
He stated that he would support primary challengers against any Republican who voted for this legislation, which passed with near-unanimous Republican support, but he provided very few details about his new political party.
Mr. Musk wrote on X on Sunday that: "Supporting a presidential candidate is not impossible, but the focus in the next 12 months is on the House and the Senate." Mr. Trump also threatened to cut billions of dollars in federal contracts and tax incentives for Mr. Musk's companies.
Mr. Trump stated on Sunday evening that Mr. Musk opposed this law because it abolishes the mandatory use of electric vehicles, which would benefit Tesla, one of Mr. Musk's companies.
"I have been advocating for this issue for two years, and to be honest, when Elon gave me his full and unequivocal support, I asked him if he knew that I would be ending the EV Order — that is in every speech of mine and in every conversation of mine," Mr. Trump wrote in his post. "He said he had no problem with that — I was quite surprised!"
Previously, Mr. Musk supported ending tax incentives for electric vehicles, but he has recently completely changed his stance as Tesla's sales have declined this year.
Mr. Trump also indicated that Mr. Musk was very angry when the president withdrew the nomination of Jared Isaacman, who has launched into orbit twice using SpaceX's spacecraft and is a close friend of Mr. Musk, to lead NASA. Mr. Trump rescinded the nomination after a White House official highlighted to Mr. Trump that Mr. Isaacman had previously donated to prominent Democrats.
Mr. Isaacman met with Mr. Trump during the transition period and disclosed donations before he was nominated. However, as the relationship between Mr. Trump and Mr. Musk is fracturing, a White House official brought these donations back to light, according to two people familiar with the matter.
Mr. Trump, who also does not separate his business interests or those of his family from the government, offered another reason on Sunday to rescind Mr. Isaacman's nomination.
"I also think it's inappropriate for a very close friend of Elon, who works in the Aerospace Industry, to run NASA, as NASA plays a huge role in Elon’s business life," Mr. Trump wrote.
Scott Bessent, the Treasury Secretary, stated on Sunday that the goals in Mr. Musk's previous efforts to cut government costs through the Office of Government Efficiency had many supporters. But the billionaire himself, Mr. Bessent said, did not.
"I believe that the board of directors at his various companies want him to return and run those companies, something he does better than anyone else," he said on CNN on Sunday. "So, I imagine that board is not pleased with this announcement yesterday and will encourage him to focus on his business activities, not his political activities."