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Yahoo
4 days ago
- Business
- Yahoo
Musk, Trump Feud Explodes Into Threats and Recriminations
(Bloomberg) -- Elon Musk said he would end use of Space Exploration Technologies Corp.'s Dragon spacecraft and called for the impeachment of President Donald Trump, as a disagreement between the former allies exploded into an all-out public feud. Next Stop: Rancho Cucamonga! ICE Moves to DNA-Test Families Targeted for Deportation with New Contract Where Public Transit Systems Are Bouncing Back Around the World US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn The Global Struggle to Build Safer Cars Musk's Thursday ultimatum came after Trump proposed cutting the billionaire's government contracts, following his onetime adviser's repeated exhortations for Republicans to vote against the president's signature tax legislation because of the cost. 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts,' Trump wrote to his social media site. Tesla's shares fell as much as 18% on Thursday, extending earlier losses after Trump floated ending Musk's federal relationships. Listen and subscribe to Elon, Inc. on Apple, Spotify, iHeart and the Bloomberg Terminal. The back-and-forth, which also saw Musk insinuate that Trump was withholding the release of files related to disgraced New York financier Jeffrey Epstein because of his own presence in them, represented a remarkable falling out among two men who spent months working together to reshape the federal government. It also left Republican lawmakers in the awkward position of choosing sides between Musk, who has quickly become a key financial backer for the party's political efforts, and Trump, the singular political force who has reshaped the party in his image. House Speaker Mike Johnson told reporters that 'policy differences shouldn't be personal' and called Musk a friend as he addressed reporters Thursday. Fellow Trump-supporting billionaire Bill Ackman tweeted that he supported both men and that 'they should make peace for the benefit of our great country.' The increasingly frenetic exchange between the president and the man who helped underwrite his third presidential bid capped off a whirlwind day that began with a call between Trump and Chinese President Xi Jinping designed to reset trade discussions that grew acrimonious over the past few weeks, as well as an Oval Office meeting with German Chancellor Friedrich Merz to discuss the US's tense relationship with Europe. The dispute over the GOP tax legislation devolved into personal bickering when Musk called Trump an ingrate and suggested the president would have never won the election without his help. Trump responded by threatening a main source of the billionaire's wealth. Musk's Tesla Inc. and SpaceX have benefited from federal contracts and subsidies. Ending contracts with Musk's companies could prove legally and practically unwieldy, given they are deeply intertwined with US space and defense operations. The Dragon spacecraft carries crew and cargo to and from the International Space Station. Total revenue for SpaceX and Tesla from federal unclassified contracts since fiscal year 2000 is $22.5 billion, according to Bloomberg Government data. 'Go ahead, make my day,' Musk posted on X in response to Trump's threat. Later, he responded 'yes' to a Twitter user's suggestion Trump be impeached and replaced by Vice President JD Vance and argued that the president's tariff regime would tip the country into a recession by the end of the year. Musk also needled Trump over his past relationship with Epstein. 'Time to drop the really big bomb: @realDonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!' Musk wrote. The White House declined to comment on the Epstein accusation. Trump said Musk's opposition to the bill was rooted in a provision that would scale back electric vehicle tax credits that benefited Tesla. 'Elon was 'wearing thin,' I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!,' Trump posted. Musk responded that Trump's claim he was asked to leave was 'such an obvious lie' and 'so sad.' Trump first voiced animosity toward Musk earlier Thursday, saying that he was 'disappointed' by the billionaire's criticisms of the GOP bill, saying its cuts to electric-vehicle tax credits drove his opposition. 'I'm very disappointed in Elon. I've helped Elon a lot,' Trump said earlier during an Oval Office meeting with Merz. 'He said the most beautiful things about me, and he hasn't said bad about me personally, but I'm sure that'll be next.' In a remarkable scene, Musk rebuked Trump in real time, firing off rebuttals on social media as the president spoke. 'Such ingratitude,' Musk posted, citing his financial support for Republicans during the 2024 election. 'Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate.' Musk floated the idea of creating a new political party 'that actually represents the 80% in the middle.' Musk denied that motivation in a post on X, saying he was fine with reducing the EV credits if lawmakers 'ditch the MOUNTAIN of DISGUSTING PORK in the bill.' The public display unleashed a new torrent of criticism from longtime Trump supporters who had greeted Musk's appearance with weary suspicion. Former Trump aide Steve Bannon told the New York Times that the US should launch an investigation into the immigration status of Musk, a naturalized citizen. 'I am of the strong belief that he is an illegal alien, and he should be deported from the country immediately,' Bannon told the paper. Since leaving government, Musk has criticized the Republican package — Trump's 'one big beautiful bill,' as he calls it — because it is forecast to add to the US budget deficit. The legislation would eliminate a credit worth as much as $7,500 for buyers of some Tesla models and other electric vehicles by the end of 2025, seven years ahead of schedule. That would cause a roughly $1.2 billion hit to Tesla's full-year profit, according to JPMorgan analysts. 'I'm very disappointed because Elon knew the inner workings of this bill better than almost anybody sitting here,' the president said. 'All of the sudden, he had a problem and he only developed a problem when he found out we're going to have to the cut the EV mandate.' Musk, in another retort, said he was not aware of the details. '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!' he said in a post on X. The pair have also clashed over Trump's decision to withdraw the nomination of Musk associate Jared Isaacman to lead the National Aeronautics and Space Administration. Trump said he pulled back the choice after learning of Isaacman's past support for Democrats. 'I didn't think it was appropriate,' Trump said. 'He wanted that person, a certain person, and we said no.' The exchange is the latest in what has been a relatively swift break with Musk, who served as a Special Government Employee overseeing cost-cutting efforts before leaving. Just last Friday, Trump staged an event for Musk in the Oval Office, celebrating his tenure and thanking him. Trump recalled that in Thursday's meeting with Merz, noting that Musk was sporting a black eye at the time. 'I said do you want a little makeup? We'll get you a little makeup. but he said 'no, I don't think so,' which is interesting and very nice,' Trump said Thursday. 'He wants to be who he is.' --With assistance from Richard Clough, Amanda Allen, Elena Popina, Erik Wasson and Romy Varghese. (Updates to include Johnson, Ackman in paragraphs 6-7 and Bannon in paragraphs 24-25.) Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Is Elon Musk's Political Capital Spent? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hindustan Times
4 days ago
- Business
- Hindustan Times
Threats, Recriminations, Disagreements: All about Musk vs Trump feud
Elon Musk said he would end use of Space Exploration Technologies Corp.'s Dragon spacecraft and called for the impeachment of President Donald Trump, as a disagreement between the former allies exploded into an all-out public feud. Musk's Thursday ultimatum came after Trump proposed cutting the billionaire's government contracts, following his onetime adviser's repeated exhortations for Republicans to vote against the president's signature tax legislation because of the cost. 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts,' Trump wrote to his social media site. Tesla's shares fell as much as 18% on Thursday, extending earlier losses after Trump floated ending Musk's federal relationships. The back-and-forth, which also saw Musk insinuate that Trump was withholding the release of files related to disgraced New York financier Jeffrey Epstein because of his own presence in them, represented a remarkable falling out among two men who spent months working together to reshape the federal government. It capped off a whirlwind day that began with a call between Trump and Chinese President Xi Jinping designed to reset trade discussions that grew acrimonious over the past few weeks, as well as an Oval Office meeting with German Chancellor Friedrich Merz to discuss the US's tense relationship with Europe. The dispute over the GOP tax legislation devolved into personal bickering when Musk called Trump an ingrate and suggested the president would have never won the election. Trump responded by threatening a main source of the billionaire's wealth. Musk's Tesla Inc. and SpaceX have benefited from federal contracts and subsidies. Ending contracts with Musk's companies could prove legally and practically unwieldy, given they are deeply intertwined with US space and defense operations. The Dragon spacecraft carries crew and cargo to and from the International Space Station. Total revenue for SpaceX and Tesla from federal unclassified contracts since fiscal year 2000 is $22.5 billion, according to Bloomberg Government data. 'Go ahead, make my day,' Musk posted on X in response to Trump's threat. Later, he responded 'yes' to a Twitter user's suggestion Trump be impeached and replaced by Vice President JD Vance and argued that the president's tariff regime would tip the country into a recession by the end of the year. Musk also needled Trump over his past relationship with Epstein. 'Time to drop the really big bomb: @realDonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!' Musk wrote. The White House declined to comment on the Epstein accusation. Trump said Musk's opposition to the bill was rooted in a provision that would scale back electric vehicle tax credits that benefitted Tesla. 'Elon was 'wearing thin,' I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!,' Trump posted. Musk responded that Trump's claim he was asked to leave was 'such an obvious lie' and 'so sad.' Trump first voiced animosity toward Musk earlier Thursday, saying that he was 'disappointed' by the billionaire's criticisms of the GOP bill, saying its cuts to electric-vehicle tax credits drove his opposition. 'I'm very disappointed in Elon. I've helped Elon a lot,' Trump said earlier during an Oval Office meeting with Merz. 'He said the most beautiful things about me, and he hasn't said bad about me personally, but I'm sure that'll be next.' In a remarkable scene, Musk rebuked Trump in real-time, firing off rebuttals on social media as the president spoke. 'Such ingratitude,' Musk posted, citing his financial support for Republicans during the 2024 election. 'Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate.' Musk floated the idea of creating a new political party 'that actually represents the 80% in the middle.' Musk denied that motivation in a post on X, saying he was fine with reducing the EV credits if lawmakers 'ditch the MOUNTAIN of DISGUSTING PORK in the bill.' Since leaving government, Musk has criticized the Republican package — Trump's 'one big beautiful bill,' as he calls it — because it is forecast to add to the US budget deficit. The legislation would eliminate a credit worth as much as $7,500 for buyers of some Tesla models and other electric vehicles by the end of 2025, seven years ahead of schedule. That would cause a roughly $1.2 billion hit to Tesla's full-year profit, according to JPMorgan analysts. 'I'm very disappointed because Elon knew the inner workings of this bill better than almost anybody sitting here,' the president said. 'All of the sudden, he had a problem and he only developed a problem when he found out we're going to have to the cut the EV mandate.' Musk, in another retort, said he was not aware of the details. '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!' he said in a post on X, formerly known as Twitter before he purchased it. Trump also said his initial pick to lead the National Aeronautics and Space Administration, Jared Isaacman, was a barrier, in part because of his past supports for Democrats. Isaacman was an associate of Musk. 'I didn't think it was appropriate,' Trump said. 'He wanted that person, a certain person, and we said no.' The exchange is the latest in what has been a relatively swift break with Musk, who served as a Special Government Employee overseeing cost-cutting efforts before leaving. Just last Friday, Trump staged an event for Musk in the Oval Office, celebrating his tenure and thanking him. Trump recalled that in Thursday's meeting with Merz, noting that Musk was sporting a black eye at the time. 'I said do you want a little makeup? We'll get you a little makeup. but he said 'no, I don't think so,' which is interesting and very nice,' Trump said Thursday. 'He wants to be who he is.'
Al Bawaba
06-04-2025
- Business
- Al Bawaba
SpaceX secures $5.9B contract with the US government
Published April 6th, 2025 - 05:40 GMT ALBAWABA - Space Exploration Technologies Corp., known as SpaceX, the American aerospace company founded by Elon Musk, has secured a contract with the US government valued at approximately $5.9 billion. Also Read SpaceX's Starship explodes during test launch SpaceX and the US government sign contract The renowned American aerospace company SpaceX, owned by billionaire Elon Musk, has announced that it has received a multibillion-dollar contract from the US government. Under the new agreement, SpaceX will use its rockets to launch military satellites into space. The total value of the contract is approximately $5.9 billion, according to the United States (US) Space Force. Notably, United Launch Alliance (ULA), the American launch service provider and joint venture between Lockheed Martin Space and Boeing Defense, Space & Security, also secured a contract valued at approximately $5.4 billion. Meanwhile, Blue Origin, owned by Amazon founder Jeff Bezos, received a $2.4 billion contract. As per the new contract with the US government, SpaceX will launch about 28 missions between 2025 and 2029. (Shutterstock) SpaceX scope As per the new contract with the US government, SpaceX will launch about 28 missions between 2025 and Gen. Kristin Panzenhagen, Program Executive Officer for Assured Access to Space, stated: 'Today's award culminates nearly three years of government and industry partnership to increase launch resiliency and capacity. The result is assured access to space for our national security missions, which increases the military's readiness.' It is worth noting that SpaceX dominates much of the commercial spaceflight sector in the United States. This aligns with Elon Musk's new role within President Donald Trump's team, where he is tasked with helping to limit the US government's spending, including military expenses. Also Read Musk launches Starlink service in Oman © 2000 - 2025 Al Bawaba (
Yahoo
06-02-2025
- Business
- Yahoo
Scholten introduces bill to open Musk and DOGE to FOIA provisions
Elon Musk, founder of Space Exploration Technologies Corp.- SpaceX, joins President Donald J. Trump at a launch briefing in preparation for the launch of the SpaceX Falcon 9 rocket with the Crew Dragon vehicle Wednesday, May 27, 2020, at the Kennedy Space Center in Cape Canaveral, Fla. (Official White House Photo by Shealah Craighead) U.S. Rep. Hillary Scholten (D-Grand Rapids) on Thursday introduced legislation she says will provide accountability about the actions of billionaire Elon Musk and his Department of Government Efficiency, or DOGE. According to a press release from Scholten's office, the Consistent Legal Expectations and Access to Records (CLEAR) Act, clarifies that temporary organizations like DOGE are subject to the Freedom of Information Act (FOIA). 'Given the breadth of power these organizations wield, they should be subject to the same standard of scrutiny and public information sharing that other agencies are beholden to,' stated the release. DOGE was created by President Donald Trump through an executive order using an authority that allows the president to set up 'temporary organizations.' Scholten introduced the legislation to make it clear that any organization created in that manner is automatically subject to FOIA requests. 'In the first two weeks of Trump's second term, chaos has reigned and has many asking… what is happening? An unelected businessman with numerous conflicts of interest has been given unprecedented access to government data and Americans' personal information,' said Scholten. 'These are taxpayer dollars he's controlling, and the American people deserve to know what's happening. Knowledge is power, and in America, that power belongs to the people. My bill will make sure that no president, Republican or Democrat, can hide their actions from the American people.' Democrats and transparency advocates have raised the alarm over the actions of DOGE, most especially the access its members have been granted to the Treasury Department's payment system, which handles trillions of dollars in payments, including income taxes, Social Security benefits and veterans pay. The bill would apply retroactively, meaning all of DOGE's records since it was formed would become public if the legislation is signed into law. U.S. Sen. Elissa Slotkin has also expressed concerns about accountability for Musk and the actions of DOGE. 'The targeting across our federal govt of law enforcement, to flight safety inspectors, to weather forecasters or those who test our drinking water, to doctors conducting clinical trials for children with cancer, is not just wrong – it will result in Americans being less safe,' wrote Slotkin on X, the social media platform owned by Musk. 'Elon Musk, an unelected billionaire, now has access to Americans' private and personal information, including sensitive tax documents. This raises all kinds of questions about the use and abuse of that information for targeting of citizens, to use for legal or financial gain.' Samuel Bagenstos is the Frank G. Millard Professor of Law at the University of Michigan who specializes in civil rights, labor and employment law, health law and governance, told the Advance this week that 'there's a value to the legal process. 'Even if at the end of the day, that process doesn't result in an injunction stopping Trump from doing what he's doing, lawsuits and the process around lawsuits help to bring to light information about what's going on. They both help to publicize what's going on, because the fact of a lawsuit and legal proceedings will get reported by journalists and become a focal point for public discussion, but also in the process of a lawsuit, you have opportunities for courts to order the defendants to provide information to the plaintiffs,' he said. Bagenstos has frequently testified before Congress, argued four cases before the U.S. Supreme Court, served as principal deputy assistant attorney general for civil rights in the U.S. Department of Justice during the Obama administration, and most recently was general counsel to the Department of Health and Human Services (HHS) in the Biden administration. He was also nominated by the Democratic Party to run for Michigan Supreme Court in 2018. 'Right now, we don't know exactly what Elon Musk is doing within the executive branch, although there are lots of reasons to worry a lot about what he's doing based on his own statements. But a court can order him to provide information about what he's doing or can order the government to provide information about has Elon Musk been granted access to the federal payment system? What is the scope of that access? Who authorized that access? Does Elon Musk or someone working with him have the authority now to stop payments made by the federal government? Who authorized that and what is the basis on which those individuals were appointed to the government?' Bagenstos said. 'These are all questions that are really important for us to know the answer to, but we might not be able to trust answers that are given by White House press officials. But a court might be able to get more authoritative information on that, so there are lots of reasons why even if at the end of the day courts aren't gonna stop everything Trump's gonna do, there are lots of reasons why we might want to continue to be out there making the case that what Trump is doing is an abuse of his legal authority.' 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