On June 5, 2025, Elon Musk publicly attacked former President Donald Trump over his “One Big Beautiful Bill,” labeling it a "disgusting abomination." Trump retaliated with threats to pull federal subsidies and contracts from Musk’s companies—and even threatened to cut EV tax credits worth $1.2 billion annually .
Immediate Market Impact:
Tesla shares plunged 14–14.3%, erasing between $150–153 billion in market value—its largest single-day drop in four years .
As a result, Musk’s personal net worth dropped by $26.6–34 billion in just hours, marking it one of the most massive 1‑day losses ever for any billionaire .
Trump Also Took a Hit:
Trump Media & Technology stock fell ~8%, and his $TRUMP crypto dropped ~12%, costing him over $1 billion (roughly $202 million in stock and $900 million in crypto) .
Why It Matters:
Market Sentiment Sensitivity – High-profile conflicts can sharply affect stock prices.
Political Risks for Big Tech – Musk’s public political stance introduced fresh uncertainty around Tesla, SpaceX, and EV subsidies.
Potential Escalation – Trump might follow through on threats to impact Musk’s government dealings .
Quick hits:
Tesla drop: ~14%
Market cap lost: ~$150–153 billion
Musk’s wealth drop: ~$26.6–34 billion
Trump’s losses: > $1 billion
#TrumpVsMusk #MyCOSTrade #MarketPullback #TrumpTariffs #CircleIPO
