Tesla’s shares dropped by about 14.2% on Thursday at market close, wiping roughly $152bn off the value of the company as a feud between Elon Musk and Donald Trump erupted into public view. The former political allies traded threats and insults through posts on their respective social media platforms throughout the afternoon as the company’s price fell.
Trump suggested on Truth Social that he could cut Musk’s government subsidies and contracts, of which both Tesla and SpaceX have been immense beneficiaries. Musk meanwhile threatened to decommission the SpaceX spacecraft that Nasa relies on for transport missions, called for Trump’s impeachment, derided the president’s signature tariffs and accused him of being affiliated with the notorious sex offender Jeffrey Epstein. Musk said late on Thursday evening his company would not decommission its spacecraft.
