From allies to enemies: the cost of a Musk-Trump split
Here is a look at his affairs as their White House partnership turns toxic, with billions of dollars in market value and government contracts hanging in the balance.
Tesla
The Tesla car company is the cornerstone of Musk's business empire and has suffered considerably since the entrepreneur dove into politics.
The electric vehicle giant's stock has plummeted more than 20 percent since the start of the year, reflecting investor anxiety about Musk's increasingly polarizing public persona.
The damage reached a fever pitch on Thursday when the Musk-Trump feud erupted out in the open. In a matter of hours, Tesla shed more than $150 billion in market capitalization, wiping $34 billion from Musk's personal fortune.
The alliance with Trump was supposed to have been Tesla's golden ticket, even if the administration was going to scrap tax credits that had helped it become an automobile juggernaut.
More importantly, Musk could count on Trump's blessing for his ultimate vision: putting fully autonomous vehicles on American roads.
This ambition has been stymied by government regulation over the years, with authorities slowing efforts due to worries that the technology is not ready to hit the road at mass scale.
The Trump administration was expected to lift these regulatory constraints -- a promise now in serious jeopardy.
"Musk needs Trump because of the regulatory environment, and you can't have Trump go from friend to foe," said analyst Dan Ives of Wedbush Securities.
The administration also regulates vehicle design and would influence the mass production of robotaxis that Musk intends to launch in a pilot program in Austin, Texas, this month.
Musk's hard-right political pivot has alienated the very customers Tesla needs most: environmentally conscious and liberal-leaning buyers who once saw the brand as aligned with their values.
Some drivers have resorted to bumper stickers declaring their cars were purchased "before Elon went crazy."
The damage is showing up in sales figures.
In Europe, while overall electric vehicle sales climbed, Tesla's market share crashed 50 percent in April as attention focused on Musk's political activities and the company's aging product lineup.
A recent Morgan Stanley survey said 85 percent of investors believe Musk's political involvement is actively harming Tesla's business.
SpaceX
A prolonged battle with Trump poses existential risks for SpaceX, Musk's space exploration company that has become NASA's most critical partner.
SpaceX and NASA are deeply interdependent. SpaceX depends on government contracts worth tens of billions of dollars, while NASA relies on SpaceX for everything from astronaut transportation to satellite deployment.
SpaceX's portfolio includes some of the most sensitive national security projects: launching astronauts to the International Space Station, building spy satellites and operating the Starlink satellite network.
The financial windfall has been enormous, with a December share sale valuing SpaceX at $350 billion -- $140 billion more than just six months earlier, largely due to anticipated government largesse under Trump.
In the heat of the clash on Thursday, Trump threatened to cut off all government contracts, while Musk said he would mothball the Dragon spacecraft, which is vital for ferrying astronauts to and from the International Space Station -- though he later walked back this threat.
xAI
Musk has huge plans for his xAI artificial intelligence company. He's angling to compete with OpenAI, the ChatGPT-maker that was co-founded by Musk a decade ago and is now steered by his archrival Sam Altman.
Altman has his own inroads to the White House, where he signed a massive AI infrastructure initiative called the Stargate Project, which recently expanded to Saudi Arabia and Abu Dhabi.
Initially dismissing Stargate as unrealistic, Musk later worked behind the scenes to undermine the project, reportedly telling investors that Trump wouldn't approve any expansion that excluded xAI.
Adding another layer of complexity, Musk folded X (formerly Twitter) into xAI earlier this year.
Musk's $44 billion acquisition in 2022 transformed the site into the go-to platform for conservatives, but Trump himself remains an infrequent user, preferring his own Truth Social platform for communication.
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Euronews
26 minutes ago
- Euronews
At least five killed in Russian missile and drone attacks on Ukraine
The European Union has roundly deplored the United States for sanctioning four judges of the International Criminal Court (ICC), including one citizen from the bloc, Slovenia's Beti Hohler, further deepening the divide between transatlantic allies. The sanctions, which also target nationals from Benin, Uganda and Peru, were announced on Thursday by US Secretary of State Marco Rubio, who said the decision was based on the court's "baseless and politicised" investigations of war crimes allegedly committed by US forces in Afghanistan and Israel in the Gaza Strip. The second probe led to arrest warrants on Israel's Prime Minister Benjamin Natayanhu and former Defence Minister Yoav Gallant. Judge Hohler ruled in favour of the orders. As a result of the measures, the four judges will be unable to access their property and assets on US soil and will be blocked from making transactions with American entities. The bans risk hindering the magistrates' ability to perform their day-to-day work. "We call on our allies to stand with us against this disgraceful attack," Rubio said. Rubio's call was met with the opposite reaction: emphatic support for the Hague-based tribunal and forceful rejection of the sanctions. "The ICC holds perpetrators of the world's gravest crimes to account & gives victims a voice. It must be free to act without pressure," said Ursula von der Leyen, the president of the European Commission. "We will always stand for global justice & the respect of international law." António Costa, the president of the European Council, voiced a similar message. "The EU strongly supports the International Criminal Court, a cornerstone of international justice," Costa wrote on social media. The ICC "does not stand against nations—it stands against impunity. We must protect its independence and integrity. The rule of law must prevail over the rule of power." High Representative Kaja Kallas stressed the ICC "must remain free from pressure and true to its principles." The Netherlands, which serves as the host country for the ICC, also expressed strong condemnation, stressing the tribunal's work must remain "as unhindered as possible". "The Netherlands disapproves of the new sanctions against officials of the International Criminal Court," said Dutch Foreign Minister Caspar Veldkamp. "Independent international courts and tribunals must be able to carry out their work without hindrance. We stand firmly behind the Court." Rejecting outside "pressure on judicial institutions", the Slovenian government said it would provide Judge Beti Hohler with "all necessary support in the performance of her mandate in the current situation". The country called on Brussels to immediately activate the so-called blocking statute, a decades-long regulation meant to protect EU individuals and companies from the extraterritorial application of sanctions by non-EU countries. The law was introduced in reaction to the sanctions that Washington introduced in 1996 against Cuba, Iran and Libya, which had ripple effects on European operators that engaged in legitimate trade with the three countries, particularly Cuba. The blocking statute came back to the fore in 2018, when the first Donald Trump administration withdrew from the Iran nuclear deal, reintroduced sanctions that had been previously lifted and threatened to punish companies for doing business with Tehran, regardless of their geographic location or ownership. Although Brussels tried to mitigate the damaging impact of these secondary sanctions, many European companies voluntarily cut off relations with Iran out of fear of losing access to America's highly profitable, dollar-based market. A Commission spokesperson said the executive would "closely monitor the implications before we decide on any next steps", such as the activation of the blocking statute, which is the Commission's prerogative but depends on a qualified majority among member states. "We have to take one step at a time," the spokesperson said. In a statement, the ICC insisted it would "continue its work undeterred, in strict accordance with the Rome Statute and the principles of fairness and due process". "Targeting those working for accountability does nothing to help civilians trapped in conflict. It only emboldens those who believe they can act with impunity," it said. "These sanctions are not only directed at designated individuals, they also target all those who support the Court, including nationals and corporate entities of States Parties. They are aimed against innocent victims in all situations before the Court." The US, which is not a party to the 1998 Rome Statute, has long had tense relations with the ICC, viewing with suspicion its ability to conduct probes into nationals around the world. The arrest warrant against Netanyahu was met with bipartisan condemnation in Washington and prompted a renewed assault by the Trump administration. Earlier this year, Hungary openly defied the ICC by ignoring the warrant and inviting Netanyahu to Budapest. Hungary later announced its intention to withdraw from the Rome Statute, becoming the first member state to do so. This article has been updated with more reactions. Russia launched a large-scale missile and drone attack on Ukrainian cities overnight on Friday, killing at least five people and injuring more than 70. According to Ukraine's Air Force spokesperson Yuri Ihnat, Kyiv forces intercepted 368 out of 407 drones and shot down 36 out of 45 missiles, including four out of six ballistic Iskander missiles launched by Russia. Ukraine's Air Forces activated the air raid alerts in all Ukrainian regions last night, warning people that multiple Russian bombers had taken off for the attack. Many people proceeded to bomb shelters with the warning. Ukraine's capital Kyiv was hit the hardest. The city Mayor Vitali Klitschko said search and rescue operations were under way at several locations. Multiple explosions were heard in Kyiv overnight, where falling debris sparked fires across several districts as air defence systems attempted to intercept incoming targets, said Tymur Tkachenko, head of the Kyiv City Administration. 'Our air defence crews are doing everything possible. But we must protect one another — stay safe,' Tkachenko wrote on Telegram. Authorities reported damage in several districts, and rescue workers were responding at multiple locations. They urged residents to seek shelter. In Solomyanskyi district, a fire broke out on the 11th floor of a 16-story residential building. Emergency services evacuated three people from the apartment, and rescue operations were ongoing. Another fire broke out in a metal warehouse. Tkachenko said the metro tracks between two stations in Kyiv were damaged in the attack, but no fire or injuries occurred. In the northern Chernihiv region, a Shahed drone exploded near an apartment building, shattering windows and doors, according to regional military administration chief Dmytro Bryzhynskyi. He added that explosions from ballistic missiles were also recorded on the outskirts of the city. The nighttime attack came hours after US President Donald Trump said it might be better to let Ukraine and Russia 'fight for a while' before pulling them apart and pursuing peace, in comments that were a remarkable detour from Trump's often-stated appeals to stop the three-year war. Trump spoke as he met with Germany's new Chancellor Friedrich Merz, who appealed to him as the 'key person in the world' who could halt the bloodshed by pressuring Russian President Vladimir Putin. Trump this week spoke on the phone with Putin, who vowed to respond "very strongly" to Ukraine's daring drone attacks on Russian military airfields that had taken place on Sunday. In February 2024, 23-year-old pregnant mother Teodora Marcu was shot dead in front of her three-year old daughter and other children on a street in Romania by her ex-partner. The killer, 49-year-old Robert Lupu, had a documented history of abuse: Marcu had filed multiple complaints against him. She died on the sidewalk, alone and unheard, although she had 'screamed' about the problem in vain for months. Marcu's story is not an exception—it is a brutal reminder of a crisis that knows no borders. Across Europe, domestic violence continues to claim lives and ruin futures. Despite years of awareness campaigns, legislative efforts, and protest movements, recent data show that domestic violence remains stubbornly pervasive - and in some countries, it's getting worse and cases – much more brutal. In Germany, new figures released in June 2024 by the Federal Criminal Police Office mark a disturbing high: 256,276 people were victims of domestic violence last year, a 6.5% increase from 2022. Of those, 70.5% were women, and in cases of intimate partner violence, nearly four out of five victims were female. Most chillingly: 155 women were killed by their current or former partners in 2023. Despite Germany's strong legal frameworks, the data signal systemic failure. 'The rising numbers mean more women are stepping forward,' said a spokesperson from a Berlin-based crisis centre. 'But it also means we're not stopping the violence. We're only counting it.' In Greece, police data for 2023 show the number of domestic violence incidents remained nearly unchanged from 2022—but still double the figure recorded in 2020. Of the 9,886 women who contacted police, the vast majority were in relationships with their abuser. 59.6% of incidents occurred within romantic partnerships, 29.7% of perpetrators were spouses, and 13.8% were live-in partners. Greece also saw 12 femicides, most committed by a male family member. A digital 'panic button' app was rolled out in 2023 to help women discreetly alert police during violent episodes. In 2024, the app was expanded nationwide and opened to male victims. Whether police response times and follow-through match the urgency remains an open question. In Portugal, domestic violence is also on the rise, at least in terms of awareness. From 2021 to 2024, the number of victims seeking help from the Portuguese Association for Victim Support (APAV) jumped by 29.3%, totalling 43,110 cases. Experts attribute the increase to greater media coverage of violence—particularly war and conflict—and the lingering effects of pandemic lockdowns, which intensified domestic tensions and isolated victims. 'People are more aware of abuse now,' an APAV counsellor explained. 'But there's still a long way to go before they feel fully protected.' Spain presents a complex picture. In 2024, 34,684 women were registered as victims of domestic or gender-based violence—a 5.2% decrease from the previous year. Yet paradoxically, the number of convicted abusers surged to 39,056, the highest figure since 2015. Relationships between victims and abusers were varied: 39.9% were partners or ex-partners, 37.8% were (ex-)girlfriends, 21.4% were (ex-)spouses. Spain's specialized gender violence courts and longstanding advocacy movements may account for the increase in convictions. But activists warn that fewer reported cases do not necessarily mean less violence—just fewer women speaking up. In Bulgaria, domestic violence remains an underreported and poorly addressed issue. A 2023 case shocked the nation when an 18-year-old woman named Débora was stabbed with a razor blade by her ex-boyfriend. She survived, but ended up with 400 stitches and her long hair was shaved. The case triggered mass protests and renewed calls for legislative reform. Bulgaria's laws have long excluded protections for victims not living with their abuser, and twelve of the country's regions lack any crisis shelter. Activists point to the country's failure to ratify the Istanbul Convention, an international treaty designed to combat violence against women, as a root cause of systemic neglect. 'The laws are written for a version of abuse that barely reflects real life,' said one protester in Sofia. 'We are burying women every year while politicians debate definitions.' Despite differing legal frameworks and public responses, the through-line is clear: domestic violence in Europe remains a persistent, deadly epidemic. While awareness and reporting are improving in some nations, gaps in law enforcement, legal protections, and survivor support continue to put lives at risk. Debora from Bulgaria is 'lucky' because she's alive. But for two years now she has been forced to face her violator in court, as the case is not yet closed. He was even released for a while, before being rearrested. Teodora Marcu from Romania is dead. And while there are still protests, dozens of women and men are still being abused by their partners on a daily basis. Some prefer to remain silent, others shout about it, yet some continue to end up as victims.
France 24
3 hours ago
- France 24
US steps up immigration crackdown with LA raids, NY courthouse arrests
From courthouses to hardware store parking lots in two of the most diverse cities in the world, federal agents wrestled migrants into handcuffs and unmarked vehicles. Agents used extreme tactics, conducting unprecedented raids on at least three areas of Los Angeles to detain dozens of people. At one sweep less than two miles from Los Angeles City Hall, agents threw flash-bang grenades to disperse angry crowds of people following alongside a convoy of Immigration and Customs Enforcement (ICE) vehicles as protesters hurled eggs and epithets at the agents, media reported. 'Terror' "As a Mayor of a proud city of immigrants, who contribute to our city in so many ways, I am deeply angered by what has taken place," LA Mayor Karen Bass said in a statement. "These tactics sow terror in our communities and disrupt basic principles of safety in our city." White House Deputy Chief of Staff Stephen Miller, who grew up in LA's Santa Monica, insisted on social media platform X that Bass had "no say in this at all." "Federal law is supreme and federal law will be enforced." Service Employees International Union leader David Huerta was briefly detained while documenting one of the raids in Los Angeles, according to media reports. "Hard-working people, and members of our family and our community, are being treated like criminals," Huerta said in a statement after his release. Homeland Security Investigations spokesperson Yasmeen Pitts O'Keefe told the Los Angeles Times that federal agents were executing search warrants related to the harboring of people illegally in the country. Hundreds of protesters gathered in downtown Los Angeles on Friday afternoon to demand the release of detainees, broadcaster ABC7 reported. The largely peaceful rally was later ordered to disperse by police, with some violent clashes between protesters and riot police being reported. NY courthouse arrests Across the country, plainclothes agents in New York pounced on two immigrants in the hallway of a courthouse Friday. AFP saw the officers yell for the men not to move before forcing them to lay face-down on the ground as they were handcuffed and arrested. It was not immediately clear why the two men were arrested. Trump was elected to a second term with broad support for his promise to crack down hard on the entry and presence of undocumented migrants. ICE agents have intensified such operations in and around American immigration courts in recent weeks. The Department of Homeland Security revoked regulations that limited agents' access to protected areas such as courts after Trump returned to office in January. One of the men arrested in New York was Joaquin Rosario, a 34-year-old Dominican who arrived in the United States a year ago, registered as he came in and who had his first immigration hearing Friday, his relative Julian Rosario said. "He was at ease. He did not think anything was going to happen," the relative said, adding that Rosario was so unworried he had not brought his lawyer with him. The other detainee appeared to be Asian. He arrived accompanied only by one of many immigration advocacy group volunteers who walk immigrants to and from the courtroom. The volunteers screamed out as the agents arrested the two men but it did nothing to halt the raid. - 'Sound the alarm' - Human rights groups are outraged by such operations, arguing that they sap trust in the courts and make immigrants wary of showing up for appointments as they try to gain US residency. "They're illegal abductions," said Karen Ortiz, a court employee who was demonstrating Friday against the sudden arrests of migrants. "We need to sound the alarm and show the public how serious this is and one way we can do that is actually physically putting ourselves between a masked ICE agent and someone they're trying to detain and send away," she told AFP. Trump has dramatically tested the limits of executive power to crack down on foreigners without papers since he returned to office, arguing that the United States is being invaded by criminals and other undesirables.
France 24
3 hours ago
- France 24
US Supreme Court grants DOGE access to Social Security data on millions of Americans
A divided US Supreme Court on Friday granted President Donald Trump 's Department of Government Efficiency (DOGE) access to the social security data of millions of Americans. The decision came after the Trump administration appealed to the top court to lift an April order by a district judge restricting DOGE access to Social Security Administration (SSA) records. "SSA may proceed to afford members of the SSA DOGE Team access to the agency records in question in order for those members to do their work," the top court said in a brief unsigned order. The three liberal justices on the Supreme Court dissented, with Justice Ketanji Brown Jackson saying the move poses "grave privacy risks for millions of Americans." "Social Security numbers, birth dates, addresses, bank-account numbers, medical records – all of that, and more, is in the mix," Jackson said. "The Government wants to give DOGE unfettered access to this personal, non-anonymized information right now – before the courts have time to assess whether DOGE's access is lawful," she said. In her April ruling, District Judge Ellen Hollander banned DOGE staff from accessing data containing information that could personally identify Americans such as their social security numbers, medical history or bank records. Social security numbers are a key identifier for people in the United States, used to report earnings, establish eligibility for welfare and retirement benefits and other purposes. Hollander said the SSA can only give redacted or anonymized records to DOGE employees who have completed background checks and training on federal laws, regulations and privacy policies. The case before Hollander was brought by a group of unions which argued that the SSA had opened its data systems to unauthorized personnel from DOGE "with disregard for the privacy" of millions of Americans. DOGE, which has been tasked by Trump with slashing billions of dollars of goverment spending, was headed at the time by SpaceX and Tesla founder Elon Musk, who has since had a very public falling out with the president. Trump has been at loggerheads with the judiciary ever since he returned to the White House, venting his fury at court rulings at various levels that have frozen his executive orders on multiple issues.
