Tensions between President Donald Trump and Tesla CEO Elon Musk reached new heights as a White House official confirmed Friday that Trump has no interest in speaking with Musk.
The public feud sparked by Musk’s criticism of Trump’s tax and spending bill, has led to a sharp decline in Tesla’s stock and Trump’s decision to sell his Tesla Model S, according to CBS News.
On Tuesday, Musk labeled Trump’s “One Big Beautiful Bill” a “disgusting abomination,” arguing it would inflate the U.S. budget deficit. In response, Trump threatened to cancel government contracts with Musk’s companies including Tesla and SpaceX and called Musk “out of control” on social media.
Musk fired back claiming Trump’s election victory depended on his support. The heated exchange triggered a 14% drop in Tesla’s shares Thursday, wiping out $150 billion in market value.
Friday saw Tesla shares recover slightly, rising 4.3% as Musk hinted at de-escalation on X, agreeing with calls for peace. However, Trump dismissed reconciliation, telling CNN, “I’m not even thinking about Elon. He’s got a problem.” A White House official echoed this, stating no call was planned with Musk, despite earlier reports of a potential truce.
CBS News reported Trump’s plan to sell his red Tesla Model S, purchased in March to support Musk. This move, coupled with threats to cut federal contracts could further dent Tesla’s market performance, analysts warn.
The company lost $115 billion in value in a single day, impacting Musk’s personal wealth. With Tesla already facing sales challenges, the feud adds pressure to its brand and stock stability.
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As the finance card above shows, Tesla’s current price stands at $295.14 with a 1-day high of $305.5 and a low of $291.14. Ongoing conflict risks further volatility, with investors urging Musk to refocus on Tesla’s operations including its upcoming autonomous robo-taxi launch in Austin.
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