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Time of India
20-05-2025
- Business
- Time of India
Barry Diller who shared box with Elon Musk at the US Open says: If people saw him in box today, they will throw
Expedia Group chairman Barry Diller has commented on what he sees as a shift in public sentiment towards Tesla CEO Elon Musk . Speaking on Monday's episode of the "On with Kara Swisher" podcast, Diller recalled witnessing Musk's popularity firsthand at the 2024 US Open. However, Diller noted that less than a year later, public mood around Musk appears to have changed significantly. "If today he was in that box, they'd throw tomatoes at him," Diller said during the podcast. Public mood on Elon Musk has flipped: Barry Diller The duo sat in the same luxury box to watch the US Open men's singles final match in September last year where Musk, Diller said, received enthusiastic reception from the crowd. "A third of the faces in that audience were looking at him and not at this champ game that was taking place," he said. The 83-year-old was 'amazed' to see people gathering to take pictures and ask for Musk's signature during a break in the game. Eight months later, Diller said a public appearance like that wouldn't unfold the same way it did in 2024. 'If today he was in that box, they'd throw tomatoes at him," Diller said, adding 'It's only September to May. I've never seen anything as swift as that.' Elon Musk's ties with Trump stirs backlash Elon Musk emerged as a significant figure in the US election, with his influence seen as helping pave the way for Donald Trump's win. He was appointed to lead the Department of Government Efficiency (DOGE) – the taskforce set up to cut government spending. However, his growing influence in the Trump administration has had a noticeable impact on the perception of his companies, especially Tesla. His increasingly public ties to Trump and right-wing politics have sparked backlash from key Tesla stakeholders, including consumers, investors, and advertisers. So much so that the electric vehicle maker's stock dropped nearly 40% this year before a resurgence last Friday. The company also faced calls for boycotts and criticism from progressive consumers. Musk's personal brand has become so entangled with Tesla's that his political rhetoric — including anti-DEI (Diversity, Equity, and Inclusion) statements and attacks on media — is being viewed as representative of the company itself. When Tesla Bull Ross Gerber called for Musk's exit Things got to a point when Tesla Bull Ross Gerber called for his exit from the company, stating that 'the company's reputation has just been destroyed by Elon Musk'. During an interview with Larry Kudlow, Musk admitted he was managing multiple businesses 'with great difficulty'. In the interview, he was seen almost 'choking' while talking about Tesla struggles. It was eventually during the company's Q1 results, Musk said that he will significantly reduce his time at DOGE in May. He then said 'Starting next month, May, my time allocation to DOGE will drop significantly'. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Insider
20-05-2025
- Business
- Business Insider
Barry Diller says to let Trump's tariffs happen, though he thinks they will 'end in tears'
Barry Diller thinks that President Donald Trump's tariffs should be allowed to come to pass. "I think it's going to end in tears," the Hollywood mogul and Expedia Group chairman said of Trump's tariff during Monday's episode of the "On with Kara Swisher" podcast. "But you know what?" the 83-year-old billionaire continued. "It's a big gamble. I like big gambles. Maybe you can pull it off. Maybe manufacturing can come back. Maybe it can end taxes for people where you just simply get money from others." "Don't be in this derangement syndrome, and let's see giving it a little good spirit rather than a violent negative spirit — and that's my attitude right now," Diller added. Trump's broad-reaching tariffs have met challenges thus far, and he has paused some of the highest levies. Business leaders, even those who have openly supported him, have expressed concerns about their economic impacts, and stocks tumbled when the tariffs were announced. The Budget Lab at Yale recently said in a report that the income reaped from tariffs won't come close to offsetting the Republicans' proposed tax cuts, which could pass given their majority in Congress and may cost the country $3.4 trillion over the next 9 years. "If we account for the likelihood that these provisions would become permanent, at the end of 30 years the debt-to-GDP ratio would be over 180%, even assuming substantial revenue from tariffs," the non-partisan policy research group wrote. "For context, the only countries with a higher debt-to-GDP ratio currently are Japan and the Sudan." In a separate report on May 12, the Budget Lab at Yale found that Trump's tariffs would cost the average American household a loss of $2,800 per household on average in 2024 dollars in purchasing power. Higher tariffs on 75 trading partners imposed on April 2 were suspended for 90 days starting on April 9. Tariffs on China were temporarily lifted for 90 days on May 14 to negotiate a broader trade agreement.
Business Insider
19-05-2025
- Politics
- Business Insider
Billionaire Barry Diller said Elon Musk's popularity decline was 'swift' since they shared a box at the US Open
Barry Diller said he witnessed Elon Musk's popularity firsthand at the US Open in 2024 — but less than a year later, it's a different story. The public's perception of Musk has had a major shift since Donald Trump won the presidential election, Expedia Group chairman Diller said during Monday's episode of the "On with Kara Swisher" podcast. The pair sat in the same luxury box to watch the US Open men's singles final match in September, where Diller said he was "amazed" by Musk's celebrity. "A third of the faces in that audience were looking at him and not at this champ game that was taking place," the 83-year-old said. He recalled hundreds of people gathering to take pictures and ask for Musk's signature during a break in the game. Eight months, one election, and a controversial plan to cut government spending later, Diller says an appearance like that wouldn't play out the same way it did last year. "If today he was in that box, they'd throw tomatoes at him," Diller said. "It's only September to May. I've never seen anything as swift as that." Neither Musk nor representatives for Expedia Group immediately responded to Business Insider's request for comment. Musk set out to cut $2 trillion in government spending with his involvement in the White House DOGE office, and he's faced backlash since then in the form of protests and movements like Tesla Takedown. Such resistance has made it harder to execute his plans, he told reporters during an April Q&A session. "Being attacked is not super fun," Musk said. "Seeing cars on fire is not fun." Diller, who cofounded the Fox TV network with Rupert Murdoch, previously said Musk has "a form of megalomania" and backed Trump out of bitterness toward the Democrats in October. He doubled down on Monday, telling Swisher that Musk is entitled to his megalomania, but it has its consequences. "I personally like him," Diller said. "Unfortunately if you are a megalomaniac, your tuning fork ear is lost, and he lost it." Enter the proverbial tomatoes prompted by Musk's slashes to government spending through DOGE, Diller said.
