Musk and his companies bleed billions since his fallout with Trump

The spectacular turnaround in the relationship between billionaire Elon Musk and US President Donald Trump, followed in real time on social media, is said to have cost Musk and his companies, particularly Tesla, a veritable fortune.

The richest man in the world is said to have suffered heavy losses in the hours following his row with Donald Trump, as the Daily Mail reports a $34 billion drop in his personal fortune.

This spectacular fall comes as Musk stepped up his attacks on the president on X.

Musk notably called for the creation of a new political party, threatened to withdraw SpaceX’s Dragon Spacecraft if its government contracts were cancelled, validated calls for Trump’s impeachment and insinuated that the Epstein Files remained secret because Trump’s name was in them, among other things.

The fall in Tesla’s shares was also taking place in real time, to the rhythm of Musk’s attacks and Trump’s counter-attacks, the latter claiming to have dismissed him from his position in the administration because he was becoming more and more difficult to bear. This breakup was precipitated, according to Trump, by the introduction of his bill to eliminate electric vehicle warrants, a measure that ran counter to Tesla’s interests, and which would have angered Musk.

Calling Musk “crazy”, Trump unleashed a new wave of reactions from the billionaire responding enigmatically and claiming in particular that Trump would never have won the election without his help.

In a single day, Tesla’s share price plummeted by almost 15%, melting its market value by around $150 billion. A plunge that raises an obvious question: was his foray into politics really worth it?