Duel Disaster: Elon Musk's Tesla Takes a Hit in Trump-Musk Ruckus
- Written by Lutz Meier
- Time to read: ~3 minutes
Trump and Musk engage in public spat; Tesla ensnared in controversy - Trump and Musk are locked in a heated disagreement over Tesla matters
Each tweet cost Musk millions. As the spat between Elon Musk and Donald Trump spiraled on Thursday, you could almost predict the drop in Tesla's stock price, mirroring the escalating social media warfare. In the end, Musk stood $150 million lighter in the wallet, and Tesla's stock, already battling downturns in recent weeks, plummeted by 14%.
- Donald Trump
- Elon Musk
- Tesla
- USA
The Beginnings: The Almighty Spending Bill
The feud between Trump and Musk has been simmering, with both giants engaging in a series of public altercations. The drama began with Musk's criticism of Trump's congressional spending bill, hinting at Trump's mention in the "Epstein Files" – a nod to the case of notorious financier Jeffrey Epstein[1][3][4]. Trump clapped back by branding Musk as "crazy" and expressing dismay at Musk's critique[3][4]. Musk has since deleted his tweet about the Epstein Files[1].
The Aftermath: Perception, Business, and Market
- Public Opinion and Business Implications: The clash has taking a toll on both Trump and Musk, with potential repercussions for Musk's ventures. Trump has hinted at the revocation of government subsidies and contracts for Musk's firms, a move that could lash out financially[1]. Conversely, the current reports fail to pinpoint a direct influence on Tesla's stock resulting from this feud.
- Stock Exchange Rollercoaster: The impact of the feud on Tesla's stock market performance isn't specified in the available sources. However, it's generally acknowledged that fuss between high-profile figures like Musk can stir market instability. Yet, without concrete data or analysis, quantifying the exact influence remains challenging.
- Platform Shift: Musk's social media pulpit (formerly known as Twitter, now X) serves as his soapbox for his critiques of Trump, a departure from his earlier backing of Trump's political aspirations[1].
All in all, while the clash between Trump and Musk rages, and its broader implications for Musk's business prospects are evident, a precise impact on Tesla's stock market statistics remains absent from the current reports.
- In the aftermath of the feud between Elon Musk and Donald Trump, Musk's criticism of Trump's congressional spending bill was perceived as a factor contributing to Trump hinting at the revocation of government subsidies and contracts for Musk's firms, potentially impacting his business finances.
- The escalating social media warfare between Elon Musk and Donald Trump has prompted questions about the influence of their public altercations on the stock market, with particular interest in Tesla's performance, but concrete data or analysis is currently lacking to quantify the exact impact.
- As the spat between Elon Musk and Donald Trump continues, Musk has shifted his platform for expressing views on political figures such as Trump, previously backing his political aspirations, to his social media pulpit, now known as X, where he often critiques Trump's policies.
