Trump and Musk feud explodes online and turns personal
Trump threatened to pull back billions of dollars in executive contracts for Musk Musk suggested the president would not have won the balloting without him Wall Street traders dumped Tesla shares plunging them over Donald Trump and Elon Musk seemed inseparable not so long ago attending events together doing joint interviews and showering praises on each other All that changed overnight Trump and Musk traded barbs in a rather citizens feud with the U S president threatening to pull back billions of dollars in authorities contracts for Musk s companies while the Tesla CEO suggested Trump could not have won the balloting without him The hostilities began when Trump lashed out at Musk s criticism of the Republican tax-cut and spending bill and hurriedly escalated into an all-out online brawl on Trump s Truth Social and Musk s X with prominent businessmen analysts and political names weighing in on the fight Tech and political Billionaire Bill Ackman on Thursday urged Trump and Musk to stop fighting The two men should make peace for the benefit of our country Ackman announced on X The founder and chief executive of hedge fund Pershing Square Capital Management who had endorsed Trump a sparse months before the November electoral process stated We are much stronger together than apart with Musk replying You re not wrong U S Congressman Jim Jordan recounted Fox News Laura Ingraham on Thursday that he hoped Elon Musk and Trump would reconcile while defending the budget bill Others in Trump s orbit such as former senior Trump adviser Steve Bannon who has clashed with Musk in new months were less conciliatory Bannon announced on his War Room Live show Thursday that Trump should sign an executive order to take control of SpaceX through a national defense mobilization law called the Defense Production Act The U S governing body should seize it Bannon stated adding that the administration should strip Musk of his safeguard clearance and suspend all federal contracts to his companies pending an review into him Congressman Thomas Massie a Republican who has criticized Trump s budget bill and clashed with the President previously revealed on X The falling out was inevitable You don t land rockets backwards or get cars to drive themselves by suffering fools gladly Billionaire investor Mark Cuban seemingly endorsed a proposal from Musk who had polled followers on whether to create a new political party in America that definitely represents the in the middle Former Presidential Candidate Andrew Yang reposted Cuban later pitching an Independent presidential primary with participants including Mark Cuban Jamie Dimon and actor Matthew McConaughey Eurasia Group s Ian Bremmer stated in a post on X that Trump is more powerful than elon but far less competent Tesla pundits Wall Street traders dumped Tesla shares sending them down over wiping out a staggering billion in the EV maker s domain value Dan Ives managing director and senior equity research analyst at Wedbush commented in a research note that the conflict was jaw dropping and a shock to the realm creating major fear for Tesla investors Tesla s stock is under major pressure down as investors fear that this Musk Trump battle will stop their friendship and change the regulatory context for Tesla on the autonomous front over the coming years under the Trump Administration Ives disclosed However Ives added that the spat had not changed Wedbush s bullish view on Tesla though it clearly does put a fly in the ointment of the Trump regulatory framework going forward Another Tesla bull Ross Gerber head of Gerber Kawasaki Wealth and Financing Management had harsh words for Musk in a series of X posts stating that Elon was now attacking all the people he helped put in power Elon going postal on Trump and tesla stock is getting walloped Trump will be returning his new tesla and is saying he got musked All this can t be good for shareholders But hey who cares about us he disclosed in a post Gary Black Future Fund s Managing Director who in recent weeks revealed on X that this firm had sold all its Tesla shares argued that Trump and Elon s feud would put further pressure on the stock taking aim at Tesla bulls These same bulls argued for months that the Musk-Trump alliance would streamline the federal process allowing TSLA to secure general unsupervised autonomy license nationally That prospect is now highly unlikely he mentioned in an X post David Rosenberg president and founder of Rosenberg Research believes Musk s SpaceX provides the U S a huge lead in space tool and the ongoing feud could thwart that There s a small group of Republicans that are unsure about that for various reasons and a great number of of them have cited Elon Musk s opposition to that spending bill as a reason that they will not vote for it So the politics of what Musk is doing may certainly be the majority of notable part of that Rosenberg stated CNBC s Squawk Box Trump says Elon Musk went CRAZY suggests cutting ruling body contracts for his companiesElon Musk says SpaceX will decommission Dragon spacecraft after Trump threat or notNervous Republicans flee Trump-Elon Musk blast radiusTesla loses billion in field cap after Musk-Trump spat biggest hit ever
