A Tesla-ing Turn: Musk's U-Turn on Shutting Down SpaceX After Trump-Epstein Feud
SpaceX head honcho, Elon Musk, issues belligerent threats towards former President Trump, floating the idea of using SpaceX and damning files associated with Jeffrey Epstein in retaliation. However, Musk later backpedals on his remarks.
Elon Musk, the tech mogul behind SpaceX and Tesla, had a change of heart after threatening to retire the Dragon spacecraft following a public spat with President Donald Trump.
Initially, Musk stated on Twitter that SpaceX would terminate the Dragon spacecraft's service, in response to Trump's announcement that the government should terminate contracts for his companies. Musk, a former Trump ally, had previously criticized Trump's tax policies and called for his impeachment. Matters escalated further when Musk accused Trump of being involved in the unreleased Epstein files, presumably containing evidence of his relationship with convicted sex offender Jeffrey Epstein.
Trump and Epstein had a previously reported relationship, and the "New York Times" also suggested that Musk himself had ties to Epstein and his associates [1]. Ghislaine Maxwell, a longtime partner of Epstein and former girlfriend, was convicted in 2021 for aiding and abetting Epstein's sex trafficking.
The Dragon spacecraft serves a vital role for NASA, as it is currently the sole U.S. spacecraft transporting astronauts to the International Space Station (ISS). The contract with SpaceX is estimated to be worth around $5 billion (approximately $4.4 billion). In addition to NASA missions, the Cargo Dragon is essential for transporting materials to the ISS [1].
Amazon founder Jeff Bezos, too, operates a space company, Blue Origin, but it has yet to make substantial progress in space travel. Following the termination of the Space Shuttle program, the U.S. found itself reliant on Russian spacecraft for several years, until the Dragon became operational [1]. Musk's decision to potentially decommission the Dragon spacecraft could also be seen as retaliation against another Trump announcement: the planned withdrawal of Jared Isaacman, an associate of Musk, as the nominee for NASA chief, due to misalignment with Trump's "America First" agenda [2].
However, in a seemingly calmer state of mind, Musk subsequently reversed his decision, stating that he and Trump needed to "calm down and take a few days off." Relieved that the Dragon spacecraft will remain active for NASA missions, SpaceX's contribution to the ISS missions and private space travel initiatives is expected to continue unhindered [1].
This rollercoaster of events took a significant toll on Tesla's stock, causing it to plummet by over 14 percent in U.S. trading. Bloomberg estimated that Musk's net worth decreased by nearly $34 billion in a single day, dropping to $335 billion (approximately $293 billion) [2].
Footnotes
- The Verge
- CNN
I'm not going to be a big fan of the idea of a "space" race with politics influencing the success of space-and-astronomy programs, such as SpaceX's Dragon spacecraft. The involvement of science, technology, and general-news media in reporting the feud between Elon Musk and President Donald Trump underscores its impact on the industry. Despite the volatility in Tesla's stock and Musk's personal fortune, I'm relieved that Musk has decided to continue SpaceX's collaboration with NASA, ensuring the progress of space-and-astronomy and space-travel technology.
