Business
Trump Threatens to Pull Billions in Federal Contracts from Elon Musk Amid Escalating Feud
President Donald Trump has escalated his feud with Elon Musk by threatening to revoke billions of dollars in federal subsidies and contracts awarded to Musk’s companies, including Tesla and SpaceX. This development follows Musk’s public criticism of Trump’s new tax legislation, which eliminates electric vehicle tax credits and increases the federal deficit.
In a post on Truth Social, Trump stated, “The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts.” Musk responded by suggesting Trump should be impeached and accused him of appearing in classified documents related to Jeffrey Epstein, further intensifying the conflict.
The feud has had significant financial repercussions. Tesla’s stock plummeted over 14%, erasing approximately $150 billion in market value. SpaceX, which holds around $22 billion in government contracts, faces potential jeopardy if Trump’s threats materialize.
This public breakdown marks a stark contrast to the previously close relationship between Trump and Musk, who had collaborated on various initiatives, including Musk’s role in the Department of Government Efficiency. The escalating dispute underscores the volatile intersection of politics and business in the current administration.
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