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From Allies to Adversaries: Trump and Musk's Public Feud Shakes Markets and Politics

UNITED STATES, JUN 7 – The escalating political feud between Trump and Musk has wiped out $152 billion in market value, impacting Tesla shares and crypto markets amid policy and personal clashes.

  • The alliance between Donald Trump and Elon Musk collapsed publicly in a heated feud on Thursday, disrupting politics and markets in Washington and Silicon Valley.
  • Their rupture followed Musk's harsh criticism of Trump's large tax-and-spending bill, which Musk called a 'disgusting abomination,' escalating tensions.
  • The feud included Musk accusing Trump of hiding Epstein-related records, Trump threatening to cancel Musk's government contracts, and both trading barbs on social media.
  • Tesla shares plunged over 14%, erasing more than $150 billion in market value and $20 billion from Musk's wealth amid the fallout.
  • This public split suggests significant strain on Musk's business ties to the government and uncertainty about future collaboration with Trump’s administration.
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Futurism broke the news in on Friday, June 6, 2025.
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