Elon Musk Loses US$34 Billion Amid Trump Feud

Elon Musk’s net worth plummeted by $34 billion in a single day following a public dispute with former President Donald Trump, driven by a significant drop in Tesla’s stock value.

The electric vehicle manufacturer’s shares fell nearly 14%, erasing approximately $150 billion from its market capitalization.

The financial decline coincided with an escalating conflict between the two figures. Musk publicly criticized Trump’s proposed $2.4 trillion tax reform plan, labeling it the “Debt Slavery Bill.” Trump retaliated swiftly, threatening to withdraw federal contracts from Musk’s companies, including Tesla and SpaceX. Musk countered with allegations linking Trump to the late financier Jeffrey Epstein, and suggested grounding SpaceX’s Dragon spacecraft, a vital asset for NASA missions, though he later retracted the latter statement.

Investors reacted with concern to the high-profile clash, fearing potential regulatory repercussions, particularly regarding electric vehicle tax credits, and broader instability for Musk’s business interests. Financial analysts cautioned that the feud poses a threat to Tesla’s business momentum and could foster prolonged market uncertainty.

Despite this substantial financial loss, Musk retains his position as the world’s wealthiest individual, with an estimated net worth of approximately $335 billion.