The feud between Elon Musk and Donald Trump has reached a boiling point, with both billionaires engaging in a heated war of words on social media. Here's what's happening .
- The Fallout: Tesla shares have plummeted nearly 10% amid the war of words between Musk and Trump, with Trump's media company shares also dropping 8%. Trump threatened to cut government contracts that support Musk's businesses, including SpaceX and Tesla ๐.
- The Disagreement: Musk criticized Trump's "Big Beautiful Bill," a tax legislation that eliminates electric vehicle tax credits, which Musk sees as a threat to his business interests. Trump retaliated by accusing Musk of ingratitude and disloyalty ๐ค.
- The Escalation: Musk fired back, claiming credit for Trump's 2024 election victory and suggesting that Trump appears in unreleased Jeffrey Epstein files. He also called for Trump's impeachment and threatened to halt US access to his Dragon spacecraft ๐.
- The Threats: Trump warned that he would terminate Elon Musk's governmental subsidies and contracts, potentially saving billions in the budget ๐ธ.
The Implications:
- Market Impact: The feud has sent shockwaves through the market, affecting Tesla's stock value and Trump's media company shares ๐.
- Political Ramifications: The clash between Musk and Trump may have significant implications for the political landscape, with Musk's influence and Trump's power clashing in a way that's capturing public attention ๐.