Trump-Musk Feud Shakes America: The Figures Behind the Fallout
According to Al Jazeera, the escalating public disputes between former US President Donald Trump and Elon Musk, the world’s richest billionaire and influential financier, have recently stirred significant political and economic turbulence in the United States. What began as differences over political and economic policies quickly escalated into a fierce exchange of public accusations and direct threats.
The once-promising political alliance between Trump and Musk, marked by mutual admiration during a year-long partnership, sharply deteriorated. Musk went so far as to accuse Trump of involvement in a notorious child abuse case, while Trump responded by labeling Musk as “crazy and irrational.” This bitter fallout led Trump to threaten the cancellation of all government contracts and support for Musk, a move that could not only cripple the billionaire but also destabilize the broader US economy.
Elon Musk played a pivotal role in Trump’s political career, having invested over $250 million in his election campaign. Musk’s financial backing positioned him among the largest campaign contributors in recent US presidential history, contributing to Trump’s electoral victories and return to the White House. As a result, Trump appointed Musk Secretary of “Productivity.” Following Trump’s win, Musk’s net worth surged to nearly $500 billion.
However, Musk resigned from the cabinet just 129 days into the Trump administration, openly criticizing the administration’s tax and spending policies. He warned that these laws would worsen the federal deficit and burden American taxpayers with increasing national debt.
The Cost of the Feud for Musk
The ongoing public clash has dealt significant financial setbacks to Musk. He lost $34 billion in a single day, marking the second-largest single-day wealth decline recorded on the Bloomberg index. Tesla shares plunged 14% after Trump’s threat to cancel government contracts, wiping out approximately $152 billion in market value from the automaker.
Trump’s new tax law poses a direct threat to Tesla, eliminating the $7,500 tax credit per electric vehicle, potentially costing the company $1.2 billion annually. Additionally, Tesla’s planned driverless taxi project faces tighter regulations that could delay its launch, according to Business Insider.
SpaceX, Musk’s aerospace venture, is also in jeopardy. Strategic government contracts worth $22 billion from NASA and the Department of Defense face potential cancellation, resulting in a 13% drop in SpaceX-related investments. Furthermore, Musk’s emerging ventures, such as neural technology company Neuralink, are now confronting new uncertainties.
Repercussions for Trump and the Republican Party
Alienating the world’s richest man has proven costly for Trump and the Republican Party. Despite the losses, Musk remains the richest individual globally, with a current estimated net worth of $342 billion—$96 billion more than Facebook founder Mark Zuckerberg.
Musk publicly taunted Trump, declaring, “Trump may be strong for the next three and a half years, but I will be strong for at least the next 40 years.” This warning underscores Musk’s enduring influence and hints at the political battles ahead.
The biggest blow to Trump and his party has been the loss of Musk’s backing—one of the key pillars supporting Trump’s rise. Musk has used his platform to criticize Republican supporters of Trump’s new tax plan and has vowed to combat them in the upcoming midterm elections, stating: “I will expel all politicians who betrayed the American people.”
This high-profile feud between Trump and Musk shines a spotlight on the complex interplay between wealth, politics, and power in America—one where personal rivalries carry profound consequences for the nation’s political and economic landscape.