Latest news with #GovernmentContracts
Yahoo
2 days ago
- Business
- Yahoo
Musk backs down on threat to retire SpaceX Dragon spacecraft amid Trump dispute
Elon Musk, the world's richest person, on Thursday said his company SpaceX would begin decommissioning its Dragon spacecraft after he engaged in an extraordinary public fallout with Donald Trump who had threatened to cancel government contracts with Musk's businesses. He later appeared to back down. 'In light of the President's statement about cancellation of my government contracts, @SpaceX will begin decommissioning its Dragon spacecraft immediately,' Musk posted on the social media platform X, which he owns. A few minutes earlier Trump had posted on Truth Social – the media platform that he owns – that he might cancel huge lucrative contracts with Musk's businesses, which include the SpaceX company that is building a fleet of rockets. Related: Trump and Musk's very public feud is like Alien v Predator for political nerds 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!' Trump said. Nasa relies on SpaceX's Dragon spacecraft to ferry astronauts to and from the International Space Station (ISS). Hours after issuing his threat, Musk appeared to take pleas from users on his social media platform X to 'cool down' and he posted: 'Good advice. Ok, we won't decommission Dragon.' Since 2008, SpaceX has received more than $20bn in government contracts, largely from Nasa and the Department of Defense. In March, two Nasa astronauts returned to Earth in a Dragon capsule after being stranded on the ISS for nearly nine months, after their Boeing Starliner capsule faced technical issues and returned to Earth without them. The next SpaceX Dragon launch is scheduled to take place on 10 June. The Dragon is expected to carry four people to and from the ISS on Axiom Mission 4. Nasa's press secretary, Bethany Stevens, in a statement on X after Musk's announcement, said the agency 'will continue to execute upon the president's vision for the future of space'. Related: Trump v Musk: 10 ways they can further hurt each other 'We will continue to work with our industry partners to ensure the president's objectives in space are met,' she added. Musk's announcement came amid an escalating dispute with Trump that began after he denounced the president's tax and spending bill as a 'disgusting abomination'. Musk later accused Trump of 'ingratitude' for the millions he spent to get him elected. Trump, in turn, said he was 'very disappointed' in Musk. The president wrote earlier on Thursday that Musk was 'wearing thin' and that the tech billionaire 'went crazy' after he was asked to depart the White House last week as head of Trump's 'department of government efficiency' .
The Independent
3 days ago
- Automotive
- The Independent
Donald Trump says Elon Musk ‘has lost his mind'
Donald Trump has escalated his public feud with Elon Musk, stating he is "not even thinking about" him and suggesting he may sell his Tesla Model S. The renewed hostility follows a social media spat where Musk criticised Trump's tax-cut and spending bill, complicating its passage in Congress. On Friday in Washington, Trump was asked about reports of a peacemaking phone call with Musk, to which he responded: 'You mean the man who has lost his mind? Shares in Tesla have dropped 14% after Trump threatened to cut off government contracts with Musk's companies, leading to a $150 billion loss in value. A prolonged feud could impact Republican control of Congress in the midterm elections if Musk withholds financial support, though Musk has indicated he plans to curtail his political spending.
Free Malaysia Today
4 days ago
- Automotive
- Free Malaysia Today
Musk ‘very welcome' in Europe after Trump bust-up, says official
Elon Musk's row with Donald Trump saw the president threaten to strip him of government contracts estimated at US$18 billion. (EPA Images pic) BRUSSELS : Elon Musk is 'very welcome' in Europe, a spokesman for the European Commission quipped today, following the tech billionaire's spectacular public falling-out with US President Donald Trump. The Trump-Musk political marriage blew up yesterday as the president declared himself 'very disappointed' in criticisms from his former aide and top donor, before the pair hurled insults at each other on social media. At the commission's daily briefing, spokeswoman Paula Pinho was asked whether Musk had reached out to the EU with a view to relocating his businesses, or setting up new ones. 'He's very welcome,' she replied with a smile. The commission's spokesman for tech matters, Thomas Regnier, followed up by stressing – straight-faced – that 'everyone is very welcome indeed to start and to scale in the EU'. 'That is precisely the objective of Choose Europe,' he said, referencing an EU initiative in favour of start-ups and expanding businesses. Musk has been a frequent critic of the 27-nation EU – attacking its digital laws as censorship and berating its leaders, while cheering on the ascendant far-right in Germany and elsewhere. The tycoon's row with Trump saw the president threaten to strip him of government contracts estimated at US$18 billion – with Musk vowing in response to end a critical US spaceship programme. Explaining the rift, Trump said Musk had gone 'crazy' about a plan to end electric vehicle subsidies in the new US spending bill – as the bust-up sent shares in Musk's Tesla car company plunging.
Reuters
4 days ago
- Business
- Reuters
Tesla shares rise as Politico reports Musk-White House to hold call
LONDON, June 6 (Reuters) - Tesla shares listed in Frankfurt rose 5.6% on Friday after Politico reported White House aides have scheduled a call with CEO Elon Musk to broker peace after a public feud with U.S. President Donald Trump. Trump threatened to cut off government contracts to Musk's companies, while Musk suggested Trump should be impeached, turning their relationship into an all-out brawl on social media. Tesla shares closed down 14.3% on Thursday in New York, losing about $150 billion in market value.
Yahoo
4 days ago
- Business
- Yahoo
Tesla shares rise as Politico reports Musk-White House to hold call
LONDON (Reuters) -Tesla shares listed in Frankfurt rose 5.6% on Friday after Politico reported White House aides have scheduled a call with CEO Elon Musk to broker peace after a public feud with U.S. President Donald Trump. Trump threatened to cut off government contracts to Musk's companies, while Musk suggested Trump should be impeached, turning their relationship into an all-out brawl on social media. Tesla shares closed down 14.3% on Thursday in New York, losing about $150 billion in market value. Sign in to access your portfolio
