Musk-Trump Feud Triggers Tesla Stock Plunge

The highly publicized clash between President Donald Trump and Elon Musk, one of the most influential figures in American business and politics, sent shockwaves through financial markets, significantly impacting Tesla’s stock price and Musk’s personal wealth. According to Forbes’ real-time Billionaires tracker, Musk’s net worth plummeted by $26.6 billion in a single day, reducing his fortune to $380.3 billion as of Thursday afternoon.

Despite this loss, Musk remains the world’s richest individual, maintaining a nearly $150 billion lead over Meta CEO Mark Zuckerberg, the second-wealthiest person. The dramatic drop was driven by a 14.26% decline in Tesla’s stock price, marking the company’s second-largest single-day drop since the market turmoil of the 2020 COVID-19 pandemic. As shown in the finance card above, Tesla closed at $284.683 per share, down from a previous day’s close of $332.05, reflecting a week-long slide of over 20%.

The catalyst for this financial upheaval was a war of words between Musk and Trump, which unfolded across social media and public statements. The feud centered on Trump’s signature legislative proposal, dubbed the “One Big Beautiful Bill,” a tax and spending package aimed at reducing federal expenditure while extending tax cuts. Musk, who had recently stepped down as co-head of the Department of Government Efficiency (DOGE), publicly lambasted the bill, calling it a “disgusting abomination” in posts on X, the social media platform he owns, earlier in the week. These remarks marked a sharp departure from the previously cordial relationship between the two, who had collaborated closely during Musk’s tenure advising the White House.