Trump vs. Musk: Billionaire Feud Shakes Politics & Markets
From Allies to Adversaries — The Public Feud Between Donald Trump and Elon Musk; Public Clash Over Policy, Power, and Allegations Sparks Market Turmoil and Political Tensions
This post can be read in Tocsin Magazine, and all Medium members can read the full article here.
Introduction
It appears that the once-close friendship and partnership between President Donald Trump and billionaire Elon Musk has devolved into a public feud, escalating rapidly into an open conflict.
Their previously strong alliance has collapsed in a dramatic, Hollywood-style fashion, with repercussions potentially affecting the United States and the global community. Efforts are now underway to mitigate and repair the damage, but the words spoken and the content shared online and on social media will remain indefinitely.
What Preceded the Feud
In retrospect, Musk’s recent actions, such as his departure from the Department of Government Efficiency (DOGE), suggest that tensions had been brewing for some time, with disagreements emerging well before the current dispute.
Moreover, Trump’s unpredictable statements and actions have reportedly cost Musk several billion dollars, a significant loss for any businessman.
Trump’s decision to impose tariffs globally resulted in an $8.7 billion loss for Musk. As the public spat between Musk and Trump intensified, Tesla’s stock price plummeted by over 14%. President Trump also faced financial setbacks, with Trump Media shares falling by 8%, leading to millions in losses for him. barrons.com
Social Media Warfare
The conflict between these two powerful figures ignited a few days ago when Musk criticized Trump’s “One Big Beautiful Bill Act” on his platform X (formerly Twitter), claiming that the bill would increase the deficit by $1.5 trillion, reduce subsidies for electric vehicles, and allocate more funds for immigration law enforcement. Trump retorted that Musk’s criticism stemmed from concerns that the changes would negatively impact Tesla. Wired.com
The dispute escalated on social media, quickly evolving into an open conflict, with both sides airing grievances publicly. At the peak of the confrontation, Musk dropped a bombshell on X, accusing the Trump administration of concealing information about Jeffrey Epstein due to the president’s alleged involvement.
Although Musk did not provide evidence for his claims, his statement garnered significant attention among Democrats, who are now demanding the release of all related documents. Democratic congress members suspect that the documents are being withheld to protect Trump. Notably, Trump traveled on Epstein’s plane seven times and participated in joint gatherings in the 1990s, according to Politifact. Trump has stated that he has no issue with releasing the documents, though this has yet to occur.
Additionally, Musk made a series of angry statements on X, suggesting that without his support, Trump would never have won the election or become president.
Musk claims he donated $290 million to Trump’s 2024 presidential campaign and other Republican candidates, contributing to their victory in securing the White House, the House of Representatives, and the U.S. Senate.
Visibly upset and offended by Trump’s statements and actions, Musk endorsed the idea of Trump’s impeachment and hinted at the possibility of founding a new political party. New York Post
Musk openly positioned himself as an opponent of Trump, urging lawmakers to choose sides and reminding them: “Trump has 3.5 years left as president, and I’ll be here for another 40+ years.”
Trump did not remain silent in the face of Musk’s accusations. He responded via Truth Social, threatening to terminate federal contracts and subsidies for Musk’s companies, including SpaceX and Starlink, jeopardizing contracts worth approximately $22 billion. apnews.com
Trump also claimed that Musk “went crazy” after he revoked electric vehicle subsidies. wired.com
Musk’s reaction to Trump’s statement was sharp, raising concerns among experts and the public about potential long-term consequences for the U.S. space program.
On June 5, 2025, Musk announced the possibility of withdrawing the Dragon spacecraft, which was crucial for NASA’s crewed missions to the International Space Station (ISS). Although he later retracted the statement, the damage had already been done, impacting financial markets, which experienced a noticeable decline.
The Dragon spacecraft, particularly the Crew Dragon version, is vital for the U.S. space program. Following the retirement of the Space Shuttle, Dragon became the sole American vehicle for transporting astronauts and cargo to the ISS. Given that Boeing’s Starliner remains grounded due to technical issues, withdrawing Dragon would force NASA to rely once again on Russian Soyuz capsules, posing logistical and political challenges. APnews
Conclusion
Even tech leaders in Silicon Valley have felt the impact of the feud, with some supporting Musk while others remain cautious. Social media users have reacted en masse, creating memes and comments that have further amplified the visibility of the conflict. wired.com
Although tensions are now subsiding and efforts are being made to smooth things over, it is evident that the friendship between Elon and Donald is under significant strain, as is their future collaboration. The cards are now on the table, and the damage is done. All that remains is to monitor the unfolding events and see who, if anyone, emerges victorious from this conflict.
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