Washington: US President Donald Trump on Saturday said, “I hope Elon Musk does well with Tesla,” but added that he has no plans to speak with the billionaire.
Speaking aboard Air Force One, Trump said he isn’t thinking about the Tesla CEO and hinted that the government may review Musk’s federal contracts. “We’ll take a look at everything,” he said. “It’s a lot of money.”
This shift comes after months of a close alliance between the two, with Musk even leading Trump’s effort to reduce government spending. However, their relationship collapsed following Trump’s Republican tax and spending bill, which Musk strongly criticized.
Musk calls tax bill a ‘disgusting abomination’
Musk has not responded directly to Trump’s remarks but has been voicing his disapproval on X, the platform he owns. He amplified posts calling the tax bill a disaster and said it would hurt Republicans and increase the national debt, now at $36.2 trillion. Musk also called for a new political party to represent “the 80% in the middle.”
The billionaire, who once helped bankroll Trump’s 2024 campaign, now says Trump should be impeached. Musk’s sudden shift has created political waves, especially since the tax bill is still moving through Congress after narrowly passing in the House.
From praise to fallout
Just a week ago, Trump praised Musk during a White House event celebrating his leadership of the Department of Government Efficiency. Musk had promised to slash $2 trillion from the federal budget but managed only half a percent. Tensions grew after Trump withdrew the nomination of Musk ally Jared Isaacman to lead NASA. Sources say White House official Sergio Gor, who clashed with Musk earlier, played a role in that decision.
Musk, furious with the bill and Trump’s actions, even threatened to shut down SpaceX’s Dragon spacecraft, which is critical to NASA missions. He later walked back that statement.
Political and financial fallout
The public spat has rattled both Wall Street and Washington. Tesla shares fell 14% on Thursday, losing $150 billion in value, the biggest single-day loss in company history, before slightly recovering on Friday. Meanwhile, protests have broken out at Tesla facilities, as critics accuse Musk of being distracted by politics.
Investor James Fishback, a longtime Musk supporter, urged him to apologize, saying Trump had shown “grace and patience” while Musk’s behavior was “disturbing.”
