Three hours on Thursday (June 5) was all that was required for investors to dip out, which caused shares in the electric car manufacturer Tesla to release more than 14%. The amazing erasure happened as ELON MUSIC and Donald Trump It set it online with criticism of the president’s “big beautiful bill.”
Associated Press Reports The Tesla Investors dumped holdings in the midst of the bitter war war between Trump and the world’s richest man. At the end of the trading day, $ 150 billion of Tesla’s value was gone. That is More than it would require to buy all Starbucks and hundreds of large publicly traded American companies. IN After hours trade, Tesla shares rose 0.8%.
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Things got real beef between Donald Trump & Elon Musk
For the record, Donnie and Elon have been discovered over the president’s budget proposal. Musk has publicly urged the bill and said it will throw the United States into slave debt that will land the United States in a recession sooner than later. He has called Americans to contact his representatives to kill the bill. Trump finally patted back and said that Elon is angry that the tax cuts are not offered to electric vehicle manufacturers. And things got messy. Musk said Trump would not have been chosen without his help. Trump suggested that he could reverse the federal government against his companies, including Tesla and Spacex. He accused him of being upset that electric vehicles did not have the lecture in the bill. In an interview on ABC News Friday, the president called his former obvious bestie “a man who has lost his mind.”
“The easiest way to save money in our budget, billions and billions of dollars is to terminate Elon’s state subsidies and contracts,” Trump wrote about his social message service Truth Social. “I was always surprised that Biden didn’t!”
While Elon warned of financial collapse with the bill, Trump stood at it on truth social. He claimed that it is one of the “biggest bills.” The president also said that taxes will increase by 68% if it does not go, and things will be much worse than that. “Trump also claimed he didn’t” do “the mess, but he’s here to” fix it. “
In the midst of this, Musk fed conspiracy theories about Trump’s commitment to Jeffrey Epstein and his notorious files. Elon threatened to disassemble the SpaceX rocket that brought two in space American astronauts home. However, he went on that threat on Friday.
Good advice.
Okay, we won’t be a decommissioning dragon.
– Elon Musk (@elon musk) June 6, 2025
Tesla is down, but what does it mean?
After the November presidential election, investors rushed into the Tesla share and add more than $ 450 billion to its value in a few weeks. The belief was that the company would see great wealth when President Trump eased the supervision of Tesla. Investors also invested that Trump’s administration would embrace Musk’s plans for millions of driverless cars on US roads.
The Tesla shares hit a maximum time on December 17, but they began to retreat during Elon Musk’s time as head of Dogge. When he ran the department for the government’s efficiency, his cost -saving initiative led to boycotts and a hit to Tesla’s reputation.
The stockfall on Thursday partly turned a large runup over the past eight weeks. Musk previously confirmed that Tesla would test an autonomous, driverless “Robotaxi” service in Austin, Texas, this month. With the president and the CEO’s meat, investors are afraid that Trump may not be in such an urgency to push on self-driving cars in the United States if it happens, Tesla will feel the battle. The AP reports that Tesla and electric cars are a fighting, and to drive for driverless cars must be now, not later.
These problems from investors translated into large paper losses in the Tesla share, which Musk personally also owns. Per AP he was down $ 20 billion for the day.
Oh, and seemingly adding salt to the wound, President Trump, Per Fox News, plans to share roads with Tesla presented to him by Musk in March. The White House plans to give the vehicle away or sell it. Who will keep the profit? It remains unclear.
Fox reports that Trump gets rid of Tesla that Musk gave him. pic.twitter.com/i2AZ0gmkky
– Ron Filipkowski (@ronfilipkowski) June 6, 2025
Elon’s other companies, SpaceX, is also at risk
Trump’s threat to reduce government contracts seems more directed at another of Musk’s business, SpaceXthan his car company.
Elon’s privately owned Rocket Company has won in the middle of his enhanced relationship with Trump in recent years. SpaceX has received billions of dollars to send astronauts and cargo to the international space station, provide launches and do other work for NASA. The company is currently competing to develop a mega rocket for the Space Agency to send astronauts to the moon next year.
A subsidiary of SpaceX, Satellite Internet Company Starlink, also seems to have benefited from Musk’s once close relationship with the president. On a trip with Trump to the Middle East last month, Musk announced that Saudi Arabia had approved Starlink for aviation and maritime use. Although it is unclear, for now, how much politics has played a role. Another measure of SpaceX’s success: a private financing round. In recent months, a private sale of shares valued the company to the company at $ 350 billion, up from an estimated $ 210 billion a year ago.
Now all this is possibly in danger. And social media right now? Reckless. Swipe below.
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AP business writer Bernard Condon contributed to this report via AP Newsroom.
What do you think roomies?
