Trump says 'very disappointed' with Elon Musk after billionaire's ire over President's ‘big beautiful bill'

Time of India

2 days ago

Donald Trump expressed disappointment in Elon Musk after Musk criticized a tax bill. Trump claimed he had helped Musk. Musk refuted Trump's claim about prior knowledge of the bill. Trump suggested Musk suffers from 'Trump derangement syndrome'. Musk mocked the bill's title on X. Tesla shares declined following Trump's criticism. Musk had previously supported Republicans and oversaw cost-cutting efforts.
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US President Donald Trump Thursday said he is 'very disappointed' with tech mogul Elon Musk , expressing his rare public disappointment in the billionaire after the latter's harsh criticism of 'big, beautiful bill'. 'I'm very disappointed in Elon,' Trump said. 'I've helped Elon a lot.' Musk has called Trump's big tax break bill a 'disgusting abomination.'Trump also asserted that Musk's attacks on the bill were motivated by the legislation's proposed elimination of consumer tax credits for electric vehicles. Musk, the CEO of electric vehicle maker Tesla, has said he opposes the bill because it will increase federal deficits."Look, Elon and I had a great relationship. I don't know if we will anymore. I was surprised," Trump said in the Oval Office.'He hasn't said bad about me personally, but I'm sure that'll be next. But I'm very disappointed … I've helped Elon a lot.''I'm very disappointed because Elon knew the inner workings of this bill,' the president added. 'He never had a problem until right after he left.'To this Elon Musk has responded on X, "False, this bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it!" (sic)Trump suggested the world's richest man misses being in the White House and has ' Trump derangement syndrome ", reports AP. 'He's not the first. People leave my administration and they love us and then at some point they miss it so badly, and some of them embrace it and some of them actually become hostile. I don't know what it is, it's sort of Trump derangement syndrome, I guess they call it. … The glamor is gone, the whole world is different, and they become hostile,' Trump said of his former ally.Trump said he and Musk have not spoken since the comments. 'He knew every aspect of this bill. He knew it better than almost anybody, and he never had a problem until right after he left,' the president said. 'I've always supported Elon. SpaceX, Tesla, those are incredible companies,' Trump said. 'But I don't understand how someone who benefited so much from American policy can turn around and call the bill that helps American industry an abomination.'As Trump was speaking, Musk wrote on X, "Slim Beautiful Bill for the win," a reference to the bill's official title, the " Big Beautiful Bill Act."Musk has been a powerful Trump ally, spending nearly $300 billion to boost Republicans in the 2024 election and then overseeing Trump's sweeping cost-cutting effort in the federal government.Shares of Tesla extended losses after Trump's criticism of Musk. The stock was lately down nearly 6%; it was off by 3% before Trump spoke.A source familiar with the situation told CNN that Trump and Musk haven't spoken directly since Musk's recent remarks, underscoring what appears to be a breakdown in their relationship. Trump noted that, while Musk hasn't personally attacked him yet, he expects that could change. 'I'm sure that'll be next,' he said. 'But I'm very disappointed in Elon. I've helped Elon a lot.'The fallout is especially notable given their past ties. Musk had once praised Trump's efforts to cut government red tape and even served on his business advisory council, though he resigned in 2017 over disagreements on climate policy.(With agency inputs)