Shares in Tesla plummeted as Tesla CEO Elon Musk and US President Donald Trump fired salvos at each other amid fallout, The Hill reported. Tesla closed with a 14.6 per cent loss as the market closed on Thursday. Trump expressed disappointment over Musk’s criticism of the bill while Tesla’s CEO accused the US president of “ingratitude”.
Tensions between Musk and Trump erupted after the former’s criticism of US President’s tax and spending bill. Last week, Musk officially departed the Trump administration after a brief tenure as he headed the Department of Government Efficiency (DOGE).
Amid the fallout with Trump, Elon Musk has claimed that US President’s name is mentioned “in the Epstein files” and added that it is the “real reason they have not been made public.”
In a post on X, Musk stated, “Time to drop the really big bomb: @realDonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT.”
In another post on X, Musk stated, “Mark this post for the future. The truth will come out.”
Names of powerful people previously related to convicted sex offender and financier Jeffrey Epstein, who died by suicide in Manhattan jail in 2019, including Trump, Prince Andrew and former US President Bill Clinton, have been named in court documents associated with Epstein’s years of sexual abuse, The Hill reported.
Before being elected in November, Trump said that he would have “no problem” releasing files related to Epstein, something some lawmakers have demanded on social media following Epstein’s death. In 2024, Trump denied any association with Epstein.
Musk’s allegation came just minutes after Trump threatened to cancel government contracts with Musk’s companies. Musk stated that considering Trump’s cancellation of government contracts with Tesla, SpaceX will begin decommissioning its Dragon spacecraft immediately.
“In light of the President’s statement about cancellation of my government contracts, @SpaceX will begin decommissioning its Dragon spacecraft immediately,” Musk posted on X.
In a post shared on his social media platform 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. I was always surprised that Biden didn’t do it.”
Musk has criticised Trump’s “big beautiful bill”, urging Americans to lobby Congress to “KILL the BILL. In response to his criticism, Trump stated that he was “very surprised.” During his meeting with German Chancellor Friedrich Merz, Trump said, “Elon and I had a great relationship. I don’t know if we will anymore.”
When asked about Elon Musk’s criticism of tax policy bill, Trump said, “I’ve always liked Elon and that’s why I was very surprised. You saw the words he had for me. The words are great. And he hasn’t said anything about me that’s bad. I’d rather have him criticize me than the bill because the bill is incredible. It’s the biggest cut in the history of our country. We’ve never cut. It’s about 1.6 trillion in cuts. It’s the biggest tax cut. Tax, you would say, people’s taxes will go way down, but it’s the biggest tax cut in history. We are doing things in that bill that are unbelievable. And when you look at what we’re doing for small businesses, for people, for middle-income people, all of the things we’re doing, nobody’s ever seen anything like it.”
“And, you know, Elon’s upset because we took the EV mandate, which was a lot of money for electric vehicles. And, you know, they’re having a hard time with the electric vehicles, and they want us to pay billions of dollars in subsidy. Elon knew this from the beginning. He knew it for a long time ago.
That’s been in there. That’s been, I would say, JD, that hasn’t changed.
