Tesla shares fall as growing Trump-Musk spat rattles investors

[groundloop]

Source: Reuters

Cracks in the relationship between President Donald Trump and Tesla CEO Elon Musk, his self-proclaimed "First Buddy", are scaring Tesla shareholders as the two fired salvos at each other in increasingly heated rhetoric on Thursday.

Shares fell nearly 9% on Thursday on a day otherwise devoid of news for the electric automaker, as traders dumped the stock in heavy trading after Musk stepped up his criticism of the president's tax bill.

Trump fired back, alleging Musk was upset because the bill takes away tax benefits for electric vehicle purchases, while investors feared their souring relationship could hurt Musk's sprawling business empire.

"Look, Elon and I had a great relationship. I don't know if we will anymore," Trump said. "He said the most beautiful things about me. And he hasn't said bad about me personally. That'll be next. But I'm very disappointed."

Read more: https://www.reuters.com/business/autos-transportation/tesla-shares-slide-musk-steps-up-criticism-ally-trump-2025-06-05/

[SheltieLover]

1. This will piss fleaon off even more...

[Javaman]

4. Hey, pass some of that over here....

[SheltieLover]

5. Have a teensy violin and more popcorn, my friend.

[nowforever]

2. This

Christmas has come early...you couldn't write a soap opera more dramatic. The bro's are going after each other like rabid dogs and no holds barred. It's a cage death match and we are all winning. Love it...this is exactly what we needed.. there is a God.

[W_HAMILTON]

3. As others have rightfully pointed out, Tesla is basically a meme stock at this point.

To change the phrase up a little, "invest in a clown, expect a circus."

[LetMyPeopleVote]

6. Tesla shares sink as Musk and Trump ridicule each other

The stock slide comes as the multibillionaire criticizes the GOP spending bill and seeks to refocus on his own companies after leading deep federal workforce cuts.

Tesla shares sink as Musk and Trump ridicule each other

Tesla's shares have fallen 16% since CEO Elon Musk began bashing President Donald Trump's massive spending bill last week, and the stock remains about 33% lower since Inauguration Day. The slide since May 27 follows Musk's departure from the…

— 10bmnews (@10bmnews.bsky.social) 2025-06-05T20:56:13Z

Link to tweet

https://www.nbcnews.com/business/business-news/tesla-shares-sink-musk-trump-ridicule-rcna211244

Tesla's shares have fallen 16% since CEO Elon Musk began bashing President Donald Trump's massive spending bill last week, and the stock remains about 33% lower since Inauguration Day.

The slide since May 27 follows Musk's departure from the Trump administration the next day. It comes as the two men's relationship began publicly unraveling Thursday.

Musk, the world's richest person and until recently Trump's cost-cutter-in-chief, said he was leaving as the head of his Department of Government Efficiency project to refocus on his businesses. Those companies — Tesla, the satellite company SpaceX, the social media platform X and the brain tech startup Neuralink — have faced growing criticism as Musk oversaw deep cuts to the federal workforce. Tesla sales around the world have fallen sharply this year.

Trump and Musk traded escalating insults Thursday afternoon, with the president threatening on his Truth Social platform to "terminate Elon's Governmental Subsidies and Contracts."

[LetMyPeopleVote]

7. This makes me smile

[RussBLib]

8. "He said the most beautiful things about me" said Trump

And that's about all it takes. That, and a few million expendable dollars.

https://russblib.blogspot.com

[delisen]

9. Now Musk gets to experience life dominated by a Dictator

I advise Musk to not take a stroll down Fifth Avenue.

[Canada Kid]

10. Musk's Tesla stock goes as flat as a cheap retread!

Glad to hear Tesla stock is way down. About as good in value as a crummy Cybertruck. Sounds like the Musk empire is starting to crumble.
Can't crash this idiot's life fast enough. Yay!!

[Dem4life1970]

11. I am here for it...all of it.

[LetMyPeopleVote]

12. Elon Musk lost $34 billion of his net worth in a day from his Trump spat: report

musk gained some of this back today but these losses are meaningful

Elon Musk lost billion of his net worth in a day from his Trump spat: report https://twp.ai/4inD0Y

— #TuckFrump (@realtuckfrumper.bsky.social) 2025-06-06T01:10:55.000Z

https://www.rawstory.com/elon-musk-lost-34-billion-of-his-net-worth-in-a-day-from-his-trump-spat-report/

Tech billionaire Elon Musk's flagship businesses took a severe hit amid his public fight with President Donald Trump, as Tesla's stock slid over 14 points, and SpaceX fell almost 5 points. But it's even worse than that, Bloomberg reported, as all of this had a devastating impact on Musk's personal net worth.

"Minute by minute, post by post, Elon Musk’s very public, extremely online feud with President Donald Trump sliced into his vaunted status as the world’s richest person," reported Dylan Sloan and Tom Maloney. "The final damage at day’s end: $34 billion erased from his personal net worth, the second-largest loss ever in the history of the Bloomberg Billionaires Index of the 500 wealthiest people on the planet. The only bigger one: his own wipeout in November 2021."

Musk remains the wealthiest man on Earth at well over $300 billion. However, the losses today constitute an over 9 percent drop in his net worth, and well below his peak near half a trillion dollars at the start of the year.

The tech mogul for months has been one of Trump's closest allies, having contributed millions of dollars to his election campaign and essentially run large parts of the campaign operation himself, and heading up the administration's Department of Government Efficiency (DOGE) task force to purge the civil service and freeze government grants across the board.