WTF?! When the president of the United States and the world’s richest person have a falling out, the ramifications can be widespread. Since Musk and Trump went from friends to enemies, $152 billion has been wiped off Tesla’s share price, and Musk has threatened to decommission the SpaceX Dragon spacecraft that NASA relies on to deliver crew to and from the International Space Station. Musk has also said that Trump appears in files relating to Jeffrey Epstein.
When he left the White House last week, Musk blasted those who said he’d had a falling out with Trump. The CEO insisted his departure was due to his scheduled 130 days as a government employee coming to an end. But Musk had been publicly criticizing Trump’s Big Beautiful Bill Act, warning it would increase the budget deficit.
After learning that an electric-vehicle tax credit that would help incentivize Tesla purchases was not included in the bill, Musk called it “a disgusting abomination” on X and urged Americans to call Congress to have the bill killed.
On Thursday, the two men used their respective social media platforms to throw insults at each other. At one point, Trump threatened to “terminate Elon’s Governmental Subsidies and Contracts” as a way to slash billions of dollars from the budget.
The warning sent Tesla’s shares down just over 14%, wiping around $152 billion off its valuation – and almost $100 billion off Musk’s total net worth.
In response to Trump’s threat to cancel Musk’s government contracts, Musk said SpaceX will begin decommissioning its Dragon spacecraft immediately. The craft, which NASA relies on for transport missions including ferrying astronauts to the ISS, is under contract worth roughly $4.9 billion. The capsule is the only US spacecraft capable of flying humans into orbit. The only other crewed spacecraft that sends astronauts to the ISS is Russia’s Soyuz system.
In light of the President’s statement about cancellation of my government contracts, @SpaceX will begin decommissioning its Dragon spacecraft immediately pic.twitter.com/NG9sijjkgW
– Elon Musk (@elonmusk) June 5, 2025
However, after an X user told him to “cool off,” Musk wrote, “Ok, we won’t decommission Dragon.”
As the war of words has grown, Musk said Trump’s controversial tariffs will cause a recession in the second half of this year. But his “really big bomb” was an allegation that Trump appears in the files of pedophile financier Jeffrey Epstein, who killed himself in his jail cell in August 2019 while awaiting trial.
Time to drop the really big bomb:@realDonaldTrump is in the Epstein files. That is the real reason they have not been made public.
Have a nice day, DJT!
– Elon Musk (@elonmusk) June 5, 2025
Musk has also shared a post calling for Trump’s impeachment and posted a poll asking if a new political party should be created in the US that “actually represents the 80% in the middle.” 81% of the 4.4 million respondents have voted yes.
Is it time to create a new political party in America that actually represents the 80% in the middle?
– Elon Musk (@elonmusk) June 5, 2025
One has to wonder if Musk believes his time in the White House was worth it. Beyond his reputational damage, his companies have suffered by association. Tesla sales were down 50% last month, and there have been protests and attacks on dealerships. The company’s share price is down 40% from its all-time high on December 17, 2024, before Musk was part of DOGE.
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