The intensified conflict between Elon Musk and Donald Trump culminated in a drastic decline of Tesla’s market value by over $152 billion, amid severe criticisms exchanged publicly. Musk criticized Trump’s significant legislative bill for its limitations on green energy and immigration, while Trump retaliated by threatening to revoke government contracts beneficial to Musk's ventures. With claims of Musk's alleged immigration status impropriety surfacing, the struggle illustrates the high stakes involved as allies of Trump push for investigations and potential contract cancellations.
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 in years.
Trump claimed he would terminate Musk's governmental subsidies and contracts, which help rake in billions of dollars for companies like Tesla and SpaceX.
Steve Bannon... is advising the president to cancel all of Musk's contracts and launch several investigations, including a formal investigation of his immigration status.
Musk took to the platform he owns, X, to lambast Trump's 'One Big Beautiful Bill,' indicating a severe rift in their relationship.
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