Elon Musk's Feud With President Trump Wipes $152 Billion Off Tesla’s Market Cap

It only took a few hours to wipe $152 billion of value from Tesla’s market cap and more than $100 million in value from TrumpCoin. The end of the bromance between Elon Musk and President Donald Trump has been brewing for weeks, but on Thursday, the breakup went nuclear. Musk took to the platform he owns, X, to lambast Trump’s “One Big Beautiful Bill,” which includes provisions that restrict immigration, limit green energy subsidies, and is estimated to increase the US deficit by $2.4 trillion. Trump shot back on Truth Social, the platform he owns, to say that Musk was only against the bill because it would take away electric vehicle tax credits that Musk’s company, Tesla, benefits from. It quickly devolved into dozens of posts, most of them from Musk, who claimed Trump is in the Epstein Files—which is, he claims, why they haven’t been made public. Tesla’s stock is now down roughly 14 percent at the time of writing, which is the biggest single-day hit to its market cap in years. Trump ... Read full article.