Obliteration Day: Elon Musk’s spat with Trump wiped $152 billion from Tesla

Yesterday’s unbelievable, unhinged, and entirely unmissable social media feud between Elon Musk and President Trump crescendoed when the Tesla boss alleged that the president’s name shows up in the Jeffrey Epstein files.

Even before that bombshell moment, the feud between kingmaker and king, which on the surface seemed to flare up over the impending budget bill, had already done serious damage to the market’s view of the Tesla business, with the stock dipping on the very first salvo from Musk.

As Trump retaliated live — on his own social media platform, where he threatened to take away government subsidies and contracts awarded to Musk’s businesses — Tesla’s stock sank further, eventually closing down 14% for the day.

All told, the spat equated to a $152 billion loss in market cap yesterday.

See the full article here.