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The Independent UK
The Independent UK
National
Josh Marcus

Musk’s feud with Trump has cost him billions

Elon Musk Donald Trump Tesla Inc. Axios SpaceX
  • Elon Musk has lost $20 billion and his investors over $100 billion, since his public split with Donald Trump last month, according to an Axios analysis.
  • The financial decline coincides with disappointing performance from Tesla, including a stock price slide and a 14 percent drop in second-quarter deliveries.
  • The disagreement between Musk and Trump was rooted in Musk's opposition to the administration's 'Big, Beautiful Bill' spending package.
  • Musk had previously spent over $250 million to support Trump’s election, which initially saw Musk’s wealth soar to $400 billion by December 2024.
  • The deepening feud could pose significant risks to Musk's companies, Tesla and SpaceX, which are heavily reliant on federal regulation and government contracts.
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