Public fallout: the complete record of the Trump vs. Musk showdown
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Public fallout: the complete record of the Trump vs. Musk showdown
Even the greatest novelist in the world couldn't have written such a script.
Navigating Web3 tides with focused insightsAuthor: Bao Yilong, Wall Street Insights
Just last week, Trump and Musk stood side by side in the Oval Office, proclaiming their enduring friendship. But by Thursday night, they were publicly mocking and insulting each other in real time. What began as mutual expressions of disappointment quickly escalated into mutual threats.
From Musk's public endorsement of Trump in July 2024 to their complete fallout, it took less than a year for the two men to become bitter enemies over a so-called "big and beautiful" U.S. legislative bill.
According to CCTV, on June 5 (Beijing time), U.S. President Donald Trump and former head of the Department of Government Efficiency Elon Musk engaged in an open war of words. As the feud continued throughout Thursday’s U.S. trading session, Tesla shares plunged, sending investors into panic mode. By market close, Tesla stock had dropped 14%, its largest decline since March, wiping out more than $150 billion in market value.
All times below are Beijing time:
June 5, 22:37
Musk retweeted a satirical “article” about Trump’s tariff bill. The headline read:
Congress Warns: Failure to Pass Spending Bill May Delay National Destruction.
June 5, 23:20
Musk retweeted a 2013 post by Trump criticizing Republicans for raising the debt ceiling, sarcastically commenting:
That makes perfect sense.
June 5, 23:46
Musk retweeted a 2012 Trump tweet that said:
I strongly agree: "No member of Congress should be re-elected unless the budget is balanced."
June 6, 00:00
While meeting German Chancellor Friedrich Merz at the White House, Trump began responding to Musk’s criticism. He said:
Musk is angry because we repealed the electric vehicle mandate—a massive financial blow to EVs. They're struggling in the EV space and now expect us to pay them billions in subsidies.
He added that Musk was aware of the inner workings of this tariff bill. He claimed he had a good relationship with Musk—but suggested it might now be over.
June 6, 00:19
Musk appeared to immediately respond to Trump’s comments about the EV mandate:
Whatever. I could accept keeping EV subsidy cuts in the bill, but oil and gas subsidies remain untouched (“this is very unfair!”). In the entire history of human civilization, legislation has either been big or beautiful—never both.
June 6, 00:25
Musk responded to a comment where Trump expressed disappointment in him:
Completely wrong. This bill was never shown to me once, and passed rapidly in the middle of the night!
June 6, 00:46
Musk replied to X user Autism Capital, saying without him, Trump would lose and Democrats would control the House. He added: "Truly ungrateful."
Without me, Trump loses the election, Democrats take the House, and Republicans hold only a 51–49 majority in the Senate.
June 6, 01:46
Musk retweeted a post from X user Wall Street Mav, who expressed hope that the dispute wouldn't damage the billionaire's relationship with Trump.
Musk then posted a video of Trump praising Tesla outside the White House, tagging Trump:
Remember this?
June 6, 02:10
Musk retweeted a 2021 interview, emphasizing his long-standing opposition to EV tax credits:
This was my statement back in 2021: We don’t need a $7,500 EV tax credit. Honestly, I’d rather cancel the entire infrastructure bill altogether. Don’t pass it. That was my advice.
June 6, 02:37
Trump joined the debate on his Truth Social platform, stating:
Musk has become “unbearable.” I asked him to leave. I canceled his EV mandate, which forced people to buy electric vehicles nobody wants (he knew I’d do this months ago!), and now he’s gone crazy!
Trump then issued a major threat against Musk’s companies:
The easiest way to save money is to cut government contracts with Musk’s firms. I’ve always been amazed Biden didn’t do this.
June 6, 02:48
Musk responded to Trump’s post:
This is clearly false. Truly sad.
He then retweeted a post suggesting termination of government contracts would cause the International Space Station to deorbit, adding a smiling emoji:
Come on, make my day.
June 6, 03:10
Musk doubled down, dropping a bombshell on social media:
Trump is implicated in Epstein’s sex crimes—that’s the real reason the U.S. government hasn’t released the Epstein files.
Bookmark this tweet. The truth will come out one day.
June 6, 04:09
Musk retweeted a post about cutting government contracts with him and issued a direct threat: SpaceX will retire its Dragon spacecraft, which transports cargo and crew to the International Space Station.
In light of the president’s statements about canceling my government contracts, @SpaceX will immediately begin dismantling its Dragon fleet.
June 6, 04:11
Musk replied to a post supporting impeachment of Trump:
- Yes
- President vs. Elon. Who wins? My money’s on Musk.
Trump should be impeached. JD Vance should succeed him.
June 6, 04:26
Musk retweeted a post stating:
Trump’s tariffs will trigger a recession in the second half of this year.
June 6, 09:20
After a netizen suggested both sides cool down and step back for a few days, Musk softened his tone:
Good advice. Okay, we won’t retire the spacecraft.
June 6, 09:27
Earlier, Bill Ackman had tried mediating, saying everyone was acting in the nation’s interest and should coexist peacefully. Musk replied:
You’re absolutely right.
Signs of Musk’s Discontent Were Evident Earlier
On May 27, just days before leaving the Department of Government Efficiency, Musk made his first public remarks on the tax reform bill during a CBS program. At the time, his critique was mild—merely expressing “disappointment.”
Regarding Trump’s description of the bill as “big and beautiful,” Musk’s response was relatively restrained:
I think a bill can be “big,” or it can be “beautiful,” but I don’t know if it can be both.
On June 1, in an interview published by CBS, Musk further voiced dissatisfaction with the U.S. government. He said he didn’t want to publicly oppose the administration but also refused to take responsibility for everything the government did. Musk claimed his Department of Government Efficiency had become a scapegoat for all failures.
On June 3, Musk took to social media calling the massive bill “absurd” and “disgusting,” warning it would increase the budget deficit by $2.5 trillion and saddle American citizens with unbearable debt.
On June 4, Musk intensified his attacks on Trump’s tax bill, urging Americans to contact their lawmakers to “kill” the legislation. On social media, he declared: “Bankrupting America is wrong.”
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