Public Spat between Trump and Musk to Cost US Dearly: Experts

(3 Minutes Read)

The fallout reached a climax after Musk accused Trump of hiding Jeffrey Epstein-related records, claimed the president’s spending bill would spark a recession, and even called for Trump’s impeachment. Trump fired back during an Oval Office meeting, vowing to terminate SpaceX and Starlink’s federal contracts, calling it an easy way to “save billions.”

The split between Donald Trump and Elon Musk is sending political shockwaves through Washington and rattling the tech world. The two men traded barbs on their rival social media platforms.

The fallout reached a climax after Musk accused Trump of hiding Jeffrey Epstein-related records, claimed the president’s spending bill would spark a recession, and even called for Trump’s impeachment. Trump fired back during an Oval Office meeting, vowing to terminate SpaceX and Starlink’s federal contracts, calling it an easy way to “save billions.”

The rift cost Musk dearly. Tesla shares plunged more than 14%, slashing over US$150 billion from the company’s valuation and $20 billion from Musk’s wealth. He first backed Trump following a near-assassination attempt last July, later launching a US$250 million PAC to boost his campaign. But on Thursday, Musk accused the president of betrayal over what he called a “disgusting abomination” of a spending bill.

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Now, with Musk out of the White House and out of favor, both men appear determined to settle scores — and the break-up of this billionaire bromance may be far from over.