Elon Musk has publicly denounced President Trump's "One Big Beautiful Bill Act," labeling it a "disgusting abomination" and warning it would balloon the national debt. In retaliation, Trump threatened to revoke federal contracts with Musk's companies, including SpaceX. The feud escalated with Musk suggesting Trump is linked to Jeffrey Epstein, further straining their relationship. Despite initial reports of a reconciliation call, Trump later dismissed the idea, stating he has "no interest" in speaking with Musk.
Key Facts
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Musk's Critique: Musk criticized the bill for its excessive spending, stating it would significantly increase the national debt and burden American citizens.
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Trump's Response: Trump expressed disappointment in Musk and suggested Musk's opposition was due to the bill's cuts to electric vehicle subsidies.
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Escalation: Musk accused Trump of being mentioned in Jeffrey Epstein's files, intensifying the feud.
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Market Impact: Tesla's stock experienced significant volatility amid the public dispute, with a notable decline following the feud's escalation.