It’s a worry – arguably the most powerful man in the world and the richest man in the world in a highly visible fallout.
Unrest and distrust at the top of U.S. government and the and in the corporate world – so what’s new?
Donald Trump and Elon Musk, once allies, have engaged in a heated public feud over a tax and spending bill. The conflict began when Musk criticised Trump’s “Big Beautiful Bill,” calling it a “disgusting abomination” and warning it would increase the budget deficit. Trump retaliated on Truth Social, calling Musk “CRAZY” and threatening to terminate billions of dollars in government contracts for his companies.
Musk fired back on X, claiming Trump would have lost the election without his support and accusing him of being named in the unreleased Epstein files.
The spat has had financial repercussions, with Tesla’s stock plummeting over 14%, wiping out $152 billion in market value. Investors fear the fallout could impact Tesla’s regulatory environment under Trump’s administration.
Tesla 5-day chart
Political figures have weighed in, with billionaire Bill Ackman urging the two to reconcile, while Steve Bannon suggested Trump should seize SpaceX under the Defence Production Act. Musk also polled followers on whether to create a new political party, gaining support from Mark Cuban and Andrew Yang.
It got worse
Elon Musk escalated his feud with Donald Trump by making explosive claims that Trump appears in the Epstein files, suggesting that this is why they have not been made public. Musk posted on X, “Time to drop the really big bomb: Donald Trump is in the Epstein files. That is the real reason they have not been made public.
“Have a nice day, DJT!”. He later doubled down, telling followers to “mark this post for the future” and insisting that “the truth will come out”.
Trump has denied any wrongdoing and dismissed Musk’s claims as retaliation for his tax bill. The White House press secretary called Musk’s comments “an unfortunate episode” and insisted that Trump is focused on passing his legislation.
Musk also endorsed a call for Trump’s impeachment, agreeing with a post that suggested Vice President JD Vance should replace Trump. This marks a dramatic shift, as Musk was previously a close ally of Trump and even held a government advisory role.
The feud continues to escalate, with Musk calling for the bill’s rejection and Trump defending it as a historic tax cut.
The position and authority of U.S. President Trump have been challenged. How will tariff trade negotiations and his standing with other world leaders progress from here?
I do have a couple of questions: why did Musk back Trump in the first place and, at what point in the 137 ‘love in’ days did he know about the Epstein link (if indeed there is one)?
Or did he know before?
Who to trust?