Musk's dad says Trump row triggered by intense stress
The row between Donald Trump and Elon Musk was triggered by months of intense stress on both sides, and the public battle between the US president and the billionaire donor needs to stop, Musk's father says.
Trump and Musk began exchanging insults last week on social media, with the Tesla and SpaceX CEO describing the president's sweeping tax and spending bill as a "disgusting abomination".
Asked whether he thought his son had made a mistake by engaging in a public row with the president, Errol Musk said people were sometimes unable to think as clearly as they should "in the heat of the moment".
"They've had five months of intense stress," Musk told Reuters at a conference in Moscow organised by conservative Russian tycoons.
"With all the opposition cleared and two people left in the arena, all they have ever done is get rid of everything and now they are trying to get rid of each other - well that has to stop."
Asked how it would end, he said: "Oh, it will end on a good note - very soon."
Neither the White House nor Musk could be reached for comment outside normal US business hours.
Trump said on Saturday his relationship with Musk was over and warned there would be "serious consequences" if Musk decided to fund US Democrats running against Republicans who vote for the tax and spending bill.
Musk bankrolled a large part of Trump's 2024 presidential campaign.
Trump named Musk to head an effort to downsize the federal workforce and slash spending.
Musk's father told reporters he was standing by his son.
"Elon is sticking to his principles but you cannot always stick to your principles in the real world," Musk's father said.
"Sometimes you have to give and take."
Speaking beside sanctioned Russian businessman Konstantin Malofeyev, Musk's father praised President Vladimir Putin as a "very stable and pleasant man".
He accused "fake media" in the West of projecting "complete nonsense" about Russia and of casting it as an enemy.
The row between Donald Trump and Elon Musk was triggered by months of intense stress on both sides, and the public battle between the US president and the billionaire donor needs to stop, Musk's father says.
Trump and Musk began exchanging insults last week on social media, with the Tesla and SpaceX CEO describing the president's sweeping tax and spending bill as a "disgusting abomination".
Asked whether he thought his son had made a mistake by engaging in a public row with the president, Errol Musk said people were sometimes unable to think as clearly as they should "in the heat of the moment".
"They've had five months of intense stress," Musk told Reuters at a conference in Moscow organised by conservative Russian tycoons.
"With all the opposition cleared and two people left in the arena, all they have ever done is get rid of everything and now they are trying to get rid of each other - well that has to stop."
Asked how it would end, he said: "Oh, it will end on a good note - very soon."
Neither the White House nor Musk could be reached for comment outside normal US business hours.
Trump said on Saturday his relationship with Musk was over and warned there would be "serious consequences" if Musk decided to fund US Democrats running against Republicans who vote for the tax and spending bill.
Musk bankrolled a large part of Trump's 2024 presidential campaign.
Trump named Musk to head an effort to downsize the federal workforce and slash spending.
Musk's father told reporters he was standing by his son.
"Elon is sticking to his principles but you cannot always stick to your principles in the real world," Musk's father said.
"Sometimes you have to give and take."
Speaking beside sanctioned Russian businessman Konstantin Malofeyev, Musk's father praised President Vladimir Putin as a "very stable and pleasant man".
He accused "fake media" in the West of projecting "complete nonsense" about Russia and of casting it as an enemy.
The row between Donald Trump and Elon Musk was triggered by months of intense stress on both sides, and the public battle between the US president and the billionaire donor needs to stop, Musk's father says.
Trump and Musk began exchanging insults last week on social media, with the Tesla and SpaceX CEO describing the president's sweeping tax and spending bill as a "disgusting abomination".
Asked whether he thought his son had made a mistake by engaging in a public row with the president, Errol Musk said people were sometimes unable to think as clearly as they should "in the heat of the moment".
"They've had five months of intense stress," Musk told Reuters at a conference in Moscow organised by conservative Russian tycoons.
"With all the opposition cleared and two people left in the arena, all they have ever done is get rid of everything and now they are trying to get rid of each other - well that has to stop."
Asked how it would end, he said: "Oh, it will end on a good note - very soon."
Neither the White House nor Musk could be reached for comment outside normal US business hours.
Trump said on Saturday his relationship with Musk was over and warned there would be "serious consequences" if Musk decided to fund US Democrats running against Republicans who vote for the tax and spending bill.
Musk bankrolled a large part of Trump's 2024 presidential campaign.
Trump named Musk to head an effort to downsize the federal workforce and slash spending.
Musk's father told reporters he was standing by his son.
"Elon is sticking to his principles but you cannot always stick to your principles in the real world," Musk's father said.
"Sometimes you have to give and take."
Speaking beside sanctioned Russian businessman Konstantin Malofeyev, Musk's father praised President Vladimir Putin as a "very stable and pleasant man".
He accused "fake media" in the West of projecting "complete nonsense" about Russia and of casting it as an enemy.
The row between Donald Trump and Elon Musk was triggered by months of intense stress on both sides, and the public battle between the US president and the billionaire donor needs to stop, Musk's father says.
Trump and Musk began exchanging insults last week on social media, with the Tesla and SpaceX CEO describing the president's sweeping tax and spending bill as a "disgusting abomination".
Asked whether he thought his son had made a mistake by engaging in a public row with the president, Errol Musk said people were sometimes unable to think as clearly as they should "in the heat of the moment".
"They've had five months of intense stress," Musk told Reuters at a conference in Moscow organised by conservative Russian tycoons.
"With all the opposition cleared and two people left in the arena, all they have ever done is get rid of everything and now they are trying to get rid of each other - well that has to stop."
Asked how it would end, he said: "Oh, it will end on a good note - very soon."
Neither the White House nor Musk could be reached for comment outside normal US business hours.
Trump said on Saturday his relationship with Musk was over and warned there would be "serious consequences" if Musk decided to fund US Democrats running against Republicans who vote for the tax and spending bill.
Musk bankrolled a large part of Trump's 2024 presidential campaign.
Trump named Musk to head an effort to downsize the federal workforce and slash spending.
Musk's father told reporters he was standing by his son.
"Elon is sticking to his principles but you cannot always stick to your principles in the real world," Musk's father said.
"Sometimes you have to give and take."
Speaking beside sanctioned Russian businessman Konstantin Malofeyev, Musk's father praised President Vladimir Putin as a "very stable and pleasant man".
He accused "fake media" in the West of projecting "complete nonsense" about Russia and of casting it as an enemy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
West Australian
an hour ago
- West Australian
Wall Street opens mixed as US-China trade talks begin
Wall Street's main indexes are mixed as investors watch a fresh round of US-China negotiations aimed at mending a trade rift that has rattled financial markets for much of the year. Top officials from both countries have kicked off discussions at London's Lancaster House, looking to address disagreements around a preliminary trade agreement struck last month that had briefly cooled tensions between the world's largest economies. The meeting, which could run into Tuesday, comes four days after US President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. The leaders had, however, left key issues unresolved. "The talks will have to go on for some time before we decide whether or not there's actual progress being made. However, most investors remain hopeful that there will be some positive results," said Peter Andersen, founder at Andersen Capital Management. White House economic adviser Kevin Hassett told CNBC in an interview on Monday the US trade negotiators are seeking a handshake in London to seal an agreement struck by Trump and Xi to allow the export of China's rare earth minerals and magnets to the United States. Hopes of more trade deals between the US and its major trading partners, along with upbeat earnings and tame inflation data, helped US equities rally in May, with the S&P 500 and the tech-heavy Nasdaq notching their best monthly gains since November 2023. The S&P 500 remains a little more than 2.0 per cent below all-time highs touched in February while the Nasdaq is about 3.0 per cent below its record peaks reached in December. Major data releases this week include readings on May consumer prices and initial jobless claims. While investors widely expect the Federal Reserve to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price pressures. In early trading on Monday, the Dow Jones Industrial Average fell 129.75 points, or 0.30 per cent, to 42,633.12, the S&P 500 lost 0.32 points, or 0.01 per cent, to 6,000.04 and the Nasdaq Composite gained 44.81 points, or 0.23 per cent, to 19,574.76. Seven of the 11 major S&P 500 sub-sectors fell, with healthcare stocks, down 0.6 per cent, declining the most. On the flip side, information technology stocks advanced 0.6 per cent. Most megacap and growth stocks were mixed. Tesla shares edged 0.5 per cent lower after brokerage Baird downgraded the stock to "neutral". Nvidia gained 1.3 per cent. Warner Bros Discovery shares jumped 9.5 per cent, the most on the S&P 500, after the company said it would separate its studios and streaming business from its fading cable television networks. Robinhood Markets fell 7.4 per cent after S&P Dow Jones Indices left S&P 500 constituents unchanged in its latest rebalancing, following recent speculation that the online brokerage would be added to the benchmark index. Merck rose 1.1 per cent after the drug maker's oral cholesterol pill succeeded in two late-stage studies. Advancing issues outnumbered decliners by a 1.65-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P 500 posted 10 new 52-week highs and one new low while the Nasdaq Composite recorded 63 new highs and 27 new lows.
Perth Now
an hour ago
- Perth Now
Wall Street opens mixed as US-China trade talks begin
Wall Street's main indexes are mixed as investors watch a fresh round of US-China negotiations aimed at mending a trade rift that has rattled financial markets for much of the year. Top officials from both countries have kicked off discussions at London's Lancaster House, looking to address disagreements around a preliminary trade agreement struck last month that had briefly cooled tensions between the world's largest economies. The meeting, which could run into Tuesday, comes four days after US President Donald Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. The leaders had, however, left key issues unresolved. "The talks will have to go on for some time before we decide whether or not there's actual progress being made. However, most investors remain hopeful that there will be some positive results," said Peter Andersen, founder at Andersen Capital Management. White House economic adviser Kevin Hassett told CNBC in an interview on Monday the US trade negotiators are seeking a handshake in London to seal an agreement struck by Trump and Xi to allow the export of China's rare earth minerals and magnets to the United States. Hopes of more trade deals between the US and its major trading partners, along with upbeat earnings and tame inflation data, helped US equities rally in May, with the S&P 500 and the tech-heavy Nasdaq notching their best monthly gains since November 2023. The S&P 500 remains a little more than 2.0 per cent below all-time highs touched in February while the Nasdaq is about 3.0 per cent below its record peaks reached in December. Major data releases this week include readings on May consumer prices and initial jobless claims. While investors widely expect the Federal Reserve to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price pressures. In early trading on Monday, the Dow Jones Industrial Average fell 129.75 points, or 0.30 per cent, to 42,633.12, the S&P 500 lost 0.32 points, or 0.01 per cent, to 6,000.04 and the Nasdaq Composite gained 44.81 points, or 0.23 per cent, to 19,574.76. Seven of the 11 major S&P 500 sub-sectors fell, with healthcare stocks, down 0.6 per cent, declining the most. On the flip side, information technology stocks advanced 0.6 per cent. Most megacap and growth stocks were mixed. Tesla shares edged 0.5 per cent lower after brokerage Baird downgraded the stock to "neutral". Nvidia gained 1.3 per cent. Warner Bros Discovery shares jumped 9.5 per cent, the most on the S&P 500, after the company said it would separate its studios and streaming business from its fading cable television networks. Robinhood Markets fell 7.4 per cent after S&P Dow Jones Indices left S&P 500 constituents unchanged in its latest rebalancing, following recent speculation that the online brokerage would be added to the benchmark index. Merck rose 1.1 per cent after the drug maker's oral cholesterol pill succeeded in two late-stage studies. Advancing issues outnumbered decliners by a 1.65-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P 500 posted 10 new 52-week highs and one new low while the Nasdaq Composite recorded 63 new highs and 27 new lows.
Perth Now
an hour ago
- Perth Now
US and Chinese officials meet in the UK for trade talks
Top US and Chinese officials are meeting in London to try to defuse a high-stakes trade dispute that has widened beyond tit-for-tat tariffs to restrictions over rare earths, threatening to cripple supply chains and slow global growth. Officials from the two superpowers were meeting at the ornate Lancaster House to try to get back on track with a preliminary agreement struck last month in Geneva that had briefly lowered the temperature between the United States and China. Since then the US has accused China of slow-walking on its commitments, particularly around rare earths shipments. US economic adviser Kevin Hassett said on Monday that the US team wanted a handshake from China on rare earths after Presidents Donald Trump and Xi Jinping spoke last week. "The purpose of the meeting today is to make sure that they're serious, but to literally get handshakes," Hassett, director of the National Economic Council, told CNBC in an interview. He said the expectation was that immediately after the handshake, export controls would be eased and rare earths released in volume. The talks, which could run into Tuesday, come at a crucial time for both economies, with investors looking for relief from Trump's cascade of tariff orders since his return to the White House in January. China's export growth slowed to a three-month low in May while its factory-gate deflation deepened to its worst level in two years. In the US, the trade war has put a huge dent in business and household confidence, and first-quarter gross domestic product contracted due to a record surge in imports as people front-loaded purchases to beat anticipated price increases. But for now, the effect on inflation has been muted, and the jobs market has remained fairly resilient, although economists expect cracks to become more apparent over the northern hemisphere summer. Attending the talks in London will be US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer, and a Chinese contingent helmed by Vice Premier He Lifeng. The inclusion of Lutnick, whose agency oversees export controls for the US, is one indication of how central rare earths have become. China holds a near-monopoly on rare earth magnets, a crucial component in electric vehicle motors. Lutnick did not attend the Geneva talks at which the countries struck a 90-day deal to roll back some of the triple-digit tariffs they had placed on each other. The second round of meetings comes four days after Trump and Xi spoke by phone, their first direct interaction since Trump's January 20 inauguration. During the more than one-hour-long call, Xi told Trump to back down from trade measures that roiled the global economy and warned him against threatening steps on Taiwan, according to a Chinese government summary. But Trump said on social media the talks focused primarily on trade led to "a very positive conclusion," setting the stage for Monday's meeting in London. The next day, Trump said Xi had agreed to resume shipments to the US of rare earths minerals and magnets and Reuters reported on Friday that China has granted temporary export licences to rare-earth suppliers of the top three US car makers. China's decision in April to suspend exports of a wide range of critical minerals and magnets upended the supply chains central to car makers, aerospace manufacturers, semiconductor companies and military contractors around the world. White House spokeswoman Karoline Leavitt told Fox News on Sunday that the US wanted the two sides to build on the progress made in Geneva in the hope they could move towards more comprehensive trade talks. While the UK government will provide a venue for Monday's discussions, it will not be party to them and will have separate talks later in the week with the Chinese delegation. The US dollar slipped against all major currencies on Monday as investors waited for news, while oil prices were little changed.
