The once-strong relationship between U.S. President Donald Trump and tech billionaire Elon Musk has dramatically deteriorated, evolving into a bitter and public feud that has shaken both political circles and the financial markets. What started as a strategic and seemingly powerful alliance during Trump’s 2024 presidential campaign has now devolved into a series of sharp criticisms, personal jabs, and policy disagreements that have culminated in significant fallout for both men.
Their partnership gained momentum in July 2024 when Musk offered enthusiastic support for Trump, especially after the failed assassination attempt on Trump’s life. Musk not only endorsed the Republican candidate but also aligned himself with Trump’s administration following his re-election. He took up an unpaid advisory role in the newly created Department of Government Efficiency (DOGE), where he championed aggressive cost-cutting reforms that won praise from fiscal conservatives. Musk’s involvement gave the administration a tech-savvy, reformist image, helping Trump further appeal to pro-business and innovation-focused voter blocs.
However, the relationship began to fray when Musk exited the White House in May 2025. The breaking point came soon after, when Musk publicly denounced Trump’s massive “One Big Beautiful Bill”—a wide-ranging spending package that aimed to consolidate numerous fiscal policies into a single legislative effort. Musk called the bill a “disgusting abomination” and criticized its reckless spending, warning that it would undo much of the savings achieved by DOGE and dangerously inflate the federal deficit.
Trump quickly responded, suggesting Musk’s opposition stemmed from personal financial interests. In particular, he claimed that Musk was upset over the bill’s removal of tax credits for electric vehicles—measures that had benefitted Tesla. Trump expressed his disappointment, stating, “Elon and I had a great relationship. I don’t know if we will anymore.” This marked a clear rupture in their alliance, made worse by Musk’s subsequent remarks accusing Trump of not consulting him before passing such a sweeping bill. Musk also reignited long-standing rumors by alluding to Trump’s alleged ties to Jeffrey Epstein, which further soured their relationship.
The fallout has already had significant financial consequences. Tesla’s stock fell by a staggering 14%, wiping out approximately $153 billion in market value in a single day. Investors were reportedly alarmed by Musk’s deepening political entanglements, and Trump’s threats to revoke federal contracts with Musk’s companies—such as SpaceX and Neuralink—have only added to the uncertainty surrounding Musk’s business empire.
This public breakdown between two of the most influential figures in American politics and business illustrates how personal conflicts can upend high-level partnerships and have far-reaching consequences. It also highlights the fragility of alliances built more on mutual convenience than lasting ideological alignment. As both Trump and Musk attempt to navigate the aftermath, the implications for U.S. policy, innovation, and political strategy remain profound and unpredictable.
