Former allies Donald Trump and Elon Musk have turned their once-public friendship right into a bitter and escalating feud. The fallout between the US President and the billionaire entrepreneur unfolded in full public view this week, culminating in private assaults, political threats, and billions of {dollars} in monetary losses to Tesla.

Billionaire Elon Musk vs US President Donald Trump: Trump and Musk have interaction in bitter political conflict(AFP)

The peak of Trump-Musk bromance

The alliance started in July 2024, when Musk provided his full-throated assist to then-Republican presidential candidate Donald Trump after an assassination try in Butler, Pennsylvania.

“I fully endorse President Trump and hope for his rapid recovery,” Musk posted on X simply minutes after the incident; he would go on to hitch Trump on the marketing campaign path, donning a customized “Make America Great Again” hat.

The relationship between the 2 shortly progressed. Following Trump’s inauguration, Musk was appointed an unpaid presidential advisor below the “special government employee” class. 

Musk confessed his emotions for the Republican President in February this yr, saying, “I love @realDonaldTrump as much as a straight man can love another man,” he wrote on ‘X’.

In the early days of the Trump administration, the Tesla CEO turned probably the most public face of the newly established Department of Government Efficiency (DOGE), the place he pushed aggressive cost-cutting reforms.

Trump-Musk fallout

At his remaining Oval Office press convention on May 31, Trump lavished reward on Musk, calling him “one of the greatest business leaders and innovators the world has ever produced.” It was the ultimate scene of their public camaraderie earlier than issues fell aside.

The bromance started to unravel shortly after Musk’s departure from the White House. On a number of events, he criticised the Trump administration’s “One Big Beautiful Bill,” warning it will enhance the federal deficit and undo DOGE’s efforts. 

This is what the tech billionaire needed to say in regards to the invoice: “This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination,” Musk posted on his web site ‘X’ on June 3.

The tipping level in Trump-Musk ties

Tensions boiled over on June 5 (Thursday) when Trump accused Musk of making an attempt to sabotage the invoice as a result of its removing of electrical car tax credit—an alleged blow to Tesla’s backside line. “Elon and I had a great relationship. I don’t know if we will any more,” Trump informed reporters.

“I’m very disappointed in Elon. He knew every aspect of this bill. He knew it better than almost anybody, and he never had a problem until right after he left,” he added.

Musk fired again on-line, denying Trump’s model of occasions. On June 6, he wrote, “This bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it!”

However, the rupture turned deeply private later the identical day when Musk steered that Trump had ties to disgraced financier Jeffrey Epstein.

“Trump’s name is in the Epstein files. That is the real reason they have not been made public.” 

Musk adopted with a decades-old quote from Trump on Epstein: “He’s a lot of fun to be with… and many of [the women] are on the younger side.” Musk ended the submit with a mocking sign-off: “Have a nice day, DJT!”

He even went on to submit a ballot for ‘X’ customers on whether or not he ought to begin a brand new political get together for “the 80% in the middle.”

Musk then went additional, endorsing requires Trump’s impeachment and supporting JD Vance as a substitute. He additionally warned that Trump’s international tariffs would “cause a recession in the second half of this year.”

The US President’s response

Trump threatened to terminate authorities contracts and subsidies for Musk’s firms on June 6 in response to Musk’s on-line rant.

The financial fallout was fast. Tesla shares plunged greater than 14% on Thursday (native time), wiping out roughly $152 billion in market worth and costing Musk $8.73 billion in private wealth, in response to Bloomberg’s Billionaires Index, cited by ANI.

Trump took to Truth Social to reply with renewed fury. “I don’t mind Elon turning against me, but he should have done so months ago,” Trump wrote later the identical day.

He defended the invoice as “one of the Greatest Bills ever presented to Congress,” warning that failure to move it will end in a “68 per cent Tax Increase.” 

He doubled down on the assault, saying, “Elon was ‘wearing thin,’ I asked him to leave, I took away his EV Mandate… and he just went CRAZY.”

The on-line crossfire continued as Trump focused Musk’s enterprise pursuits. “The easiest way to save money in our Budget… is to terminate Elon’s Governmental Subsidies and Contracts,” Trump posted.