🔥 The Feud: Trump vs. Musk
The conflict began when Musk criticized Trump's proposed "One Big Beautiful Bill," which includes sweeping tax cuts and the elimination of electric vehicle (EV) subsidies. Musk labeled the bill a "disgusting abomination," arguing that it unfairly targets green energy incentives while maintaining subsidies for fossil fuels.
In response, President Trump expressed disappointment in Musk and threatened to revoke federal contracts and subsidies for Musk's companies, including Tesla and SpaceX. Trump accused Musk of opposing the bill to protect his own interests in EV tax credits.
The situation escalated when Musk alleged that Trump was involved in the Jeffrey Epstein case, claiming that certain documents were being withheld due to Trump's connections. This accusation further intensified the dispute between the two figures.
📉 Market Impact: Tesla's Stock Plummets
The public spat has had immediate financial consequences. Tesla's stock price has dropped by 17%, erasing approximately $100 billion in market value. This decline reflects investor anxiety over potential loss of government contracts and subsidies, as well as the broader implications of the feud.
Additionally, Musk's personal net worth has suffered, with a reported decrease of $132 billion since the beginning of the year. The downturn in Tesla's stock, coupled with declining sales in key markets like China and Europe, has contributed to this financial setback.
🚨 Broader Repercussions: Protests and Political Fallout
The feud has sparked public protests under the banner of the "Tesla Takedown" movement. Demonstrators are urging consumers to boycott Tesla products and sell their shares, aiming to diminish Musk's economic and political influence. The movement has gained traction internationally, reflecting widespread discontent with Musk's political engagements.
Furthermore, Musk's role as head of the Department of Government Efficiency (DOGE) has drawn criticism.
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