Tesla shares sink as Musk and Trump ridicule each other

[LetMyPeopleVote]

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."

[BannonsLiver]

1. "Buy the dip!"

[marble falls]

2. Aw, ain't it a shame. I hope eLoon knocks over the apple cart.

[LetMyPeopleVote]

3. This makes me smile

[Dixiegrrrl]

4. Trump kills everything he touches

Is a saying that has been around for ages, for good reason.

[Wednesdays]

6. ETTD.

Everything tRump touches, dies.

[Wednesdays]

5. Down only 33% since Inauguration Day?

Shit, it should be 90%.

[mike_c]

7. has he lost more money than Mike Lindell, yet?

Inquiring minds want to know. Will Elon snatch the MyPillow chump baton?! Stay tuned, Gotham City!

[LetMyPeopleVote]

8. 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.

[edhopper]

9. Tesla stock

Should be $20 to $30 based on its PE

[onenote]

10. Up $16 as of 1:30 today