The relationship between Tesla’s CEO Elon Musk and former President Donald Trump has rapidly evolved from what some perceived as a budding friendship to a contentious clash marked by personal attacks and heated rhetoric. This shift became particularly pronounced during the ongoing 2024 Presidential campaign.
Tensions escalated after Musk distanced himself from Dogecoin and criticized Trump’s “One Big Beautiful Tax Bill,” labeling it a “disgusting abomination.” Trump’s response indicated that Musk was upset over the elimination of certain tax credits and a refusal to appoint his choice for a NASA position.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 295.14 | +10.44 | +3.67% |
Musk quickly retaliated, connecting Trump to the disgraced financier Jeffrey Epstein and accusing him of instigating potential economic downturns through his tariffs.
MUSK DOES ABOUT FACE IN TRUMP BATTLE
In a visual retrospective, Finance Newso Business examines the complicated relationship between Musk and Trump, which has spanned various notable moments including Musk’s involvement with Dogecoin and his regular presence at the White House, where he participated in Cabinet meetings and other discussions despite being a special government employee.
Musk’s family also maintained ties with Trump, as his son, X, traveled on Air Force One and frequently appeared alongside Musk in the Oval Office. Trump stood by Musk during public protests against cuts to DOGE, even showcasing his own Tesla vehicle outside the White House, while he praised Musk for a successful SpaceX launch. The two have been seen ringside together at UFC events, enjoying the company of CEO Dana White.
Amid the tumultuous exchanges, Tesla’s market valuation plummeted by over $150 billion, marking a significant drop. On Friday, the company’s stock showed signs of recovery, at least partially reversing some of the losses incurred.
KEVIN O’LEARY: WHAT REALLY SET OFF ELON MUSK AGAINST TRUMP?
Currently, Tesla shares have declined nearly 20% since the start of the year.
GET Finance Newso BUSINESS ON THE GO BY CLICKING HERE
