Trump vs Musk: Friendship Turns Into Feud, Elon Musk Loses $34 Billion In One Day Due To Clash With Donald Trump

Elon Musk and Donald Trump were seen as good friends during the 2024 U.S. elections. Musk openly supported Trump at that time. But now, their friendship has turned into a fight.

Why Are They Fighting?

Trump canceled a rule made during Joe Biden’s time that supported electric vehicles (EVs). Musk did not like this. He said the new bill is bad for the environment and unfair. Musk called the bill “Big Ugly Bill” instead of Trump’s name for it, “Big Beautiful Bill.”

Trump's Angry Response

Trump did not stay silent. He posted many angry messages on his social media app, Truth Social.

He said that stopping government money going to Musk’s companies would save billions of dollars. He even questioned why Biden never did this before.

Musk’s Huge Loss

After this fight, Tesla’s stock dropped by 14% in one day. According to Bloomberg, Musk lost USD 33.9 billion in just 24 hours. His total wealth is now USD 335 billion, but he is still the richest person in the world.

Why Musk is Upset

Musk is upset because the new bill removes benefits for electric vehicles.

He also said the bill was passed too quickly and secretly. He claimed that he never got to read it before it became law.