Elon Musk-owned Tesla lost 152 billion in value, the biggest hit to its market cap ever, putting it below the 1 trillion benchmark and settling Thursday at 916 billion.
“Look, Elon and I had a great relationship. I don’t know if we will any more,” said President Trump after Elon Musk appealed for his “One Big Beautiful Bill” to be stopped at all cost. That bill has now passed the House of Representatives.
“I’m very disappointed in Elon,” Trump told the American press.
In a post on Truth Social, Trump claimed that Musk was upset that he took away his EV Mandate that “forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!)”. “… he just went CRAZY!” Trump wrote on Truth Social.
Shares are down nearly 18% this week as Musk has continued to rail against the budget bill, according to CNBC report. This year, shares are down nearly 30% and well off the high of $488.54 reached on December 18.
