Fintech Capital

#TrumpVsMusk Trump to Sell His Tesla, White House Says, as Feud With Musk Carries Risks for Both Men Their blowup leaves President Trump with an ex-ally who could undermine him politically and Elon Musk facing the possible loss of billions in government contracts. President Trump is getting rid of his Tesla and has no plans to call Elon Musk, two Trump administration officials said on Friday, as the acrimonious blowup of their partnership left both men — who lobbed online insults and threats at each other on Thursday — with a lot at risk. A White House official who spoke on condition of anonymity because the person wasn’t authorized to speak publicly said Friday that the president planned to sell the red Tesla he said he bought in March. Mr. Trump originally purchased the car to demonstrate his support for Mr. Musk amid a backlash over his role in the administration. Administration officials said Mr. Trump showed little interest in engaging with Mr. Musk, even after the billionaire signaled he would be open to de-escalating the fight. Late Thursday, Mr. Musk backed off a threat to “immediately” decommission SpaceX’s Dragon spacecraft, which transports NASA astronauts and supplies to and from the International Space Station. A short time later, when Bill Ackman, the hedge-fund billionaire, posted on social media that the two men “should make peace for the benefit of our great country,” Mr. Musk responded, “You’re not wrong.” For Mr. Musk, a prolonged feud with Mr. Trump could be hugely expensive. His companies, including SpaceX, have benefited from billions of dollars in government contracts and were positioned to receive billions more. Mr. Trump threatened on Thursday to end those contracts. The feud is risky for Mr. Trump as well. Mr. Musk, the world’s richest person, who spent about $275 million to help elect Mr. Trump in 2024, had promised to give $100 million to groups controlled by the president’s team before the 2026 midterms. Those funds have yet to be delivered and are now very much in doubt.