The Shot Backfired: Alliance with Trump Sinks Elon Musk's Businesses
Elon Musk's proximity to Donald Trump, marked by a multimillion-dollar investment in the campaign and the leadership of the controversial Department of Government Efficiency (DOGE), has been causing significant losses for his companies. Tesla suffered a 71% drop in profits and lost ground to the Chinese BYD, while SpaceX faces allegations of favoritism in public contracts. Unpopular actions in the government, such as drastic cuts and conflicts of interest, have raised alarms in the Senate and the market, shaking Musk's image and harming his business credibility.$BTC , $ETH , $XRP