Tesla shares fall as growing Trump-Musk spat rattles investors [View all]
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/
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