Elon Musk’s Feud With President Trump Wipes $152 Billion Off Tesla’s Market Cap

https://www.wired.com/story/musk-trump-breakup-tesla-stock-price/

Posted by wiredmagazine

5 comments

  1. It only took a few hours to wipe $152 billion of value from [Tesla](https://www.wired.com/tag/tesla/)’s market cap and more than $100 million in value from [TrumpCoin](https://www.wired.com/story/trump-memecoin-dinner-winners/).

    The [end of the bromance between Elon Musk and President Donald Trump](https://www.wired.com/story/elon-musk-donald-trump-breakup/) has been brewing for weeks, but on Thursday, the breakup went nuclear. [Musk took to the platform he owns, X,](https://www.wired.com/story/elon-musk-donald-trump-x-truth-social-fight-posting/) to lambast Trump’s “One Big Beautiful Bill,” which includes provisions that restrict immigration, limit green energy subsidies, and is estimated to increase the US deficit by $2.4 trillion. Trump shot back on Truth Social, the platform he owns, to say that Musk was only against the bill because it would take away electric vehicle tax credits that Musk’s company, Tesla, benefits from. It quickly devolved into dozens of posts, most of them from Musk, who claimed [Trump is in the Epstein Files](https://x.com/elonmusk/status/1930703865801810022)—which is, he claims, why they haven’t been made public.

    Tesla’s stock is now down roughly 14 percent at the time of writing, which [is the biggest single-day hit to its market cap](https://www.cnbc.com/2025/06/05/tesla-shares-musk-trump.html) in years. Trump’s crypto coin is down nearly 10 percent.

    This is a high-stakes divorce for everyone involved. Trump claimed he would terminate Musk’s governmental subsidies and contracts, which help [rake in billions of dollars](https://www.latimes.com/business/la-fi-hy-musk-subsidies-20150531-story.html) for companies like Tesla and SpaceX. In return, Musk [posted](https://x.com/elonmusk/status/1930718684819112251) that he would decommission SpaceX’s Dragon spacecraft, which is used by NASA to transport cargo and astronauts to the International Space Station, “immediately.” Steve Bannon, a Trump ally and vocal critic of Musk, [told](https://www.nytimes.com/live/2025/06/05/us/trump-elon-musk/47c632bb-5c43-5719-8a53-99ee76e56222?smid=url-share) The New York Times that “he is advising the president to cancel all of Musk’s contracts and launch several investigations.”

    “They should initiate a formal investigation of his immigration status because I am of the strong belief that he is an illegal alien, and he should be deported from the country immediately,” Bannon said. It has been [reported](https://www.wired.com/story/elon-musk-citizenship-revoked-denaturalized/) that Musk may have lied on his visa forms, which would likely have made it illegal for him to work in the United States in the 1990s.

    Read the full story: [https://www.wired.com/story/musk-trump-breakup-tesla-stock-price/](https://www.wired.com/story/musk-trump-breakup-tesla-stock-price/) 

  2. 🎶Yesterday….love was such an easy game to play🎶

    Now my chainsaw’s has been torn away

    I wonder what Ghislaine might say🎶

    If I paid her, to chat away🎶

  3. More on this subject from other reputable sources:

    —
    – BBC Online (A): [Musk-Trump fight: The tech billionaire slams the president's ingratitude](https://www.bbc.com/news/live/cyvm2181lqvt)
    – The Hill (B): [Musk backs call to impeach Trump, replace him with Vance](https://thehill.com/policy/technology/5335725-elon-musk-trump-impeachment/)
    – Axios (B+): [Musk blasts Trump’s signature bill as ](https://www.axios.com/2025/06/03/elon-musk-trump-bill-deficit-spending)
    – NBC News (B): [As feud explodes into public view, Trump implies government could cut contracts and subsidies to Musk’s companies ](https://www.nbcnews.com/business/business-news/trump-musk-contracts-subsidies-budget-cuts-rcna211288)

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