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The Sun
4 days ago
- Automotive
- The Sun
Trump scuppers idea of calling Musk after row, may ditch Tesla
WASHINGTON: US President Donald Trump has no plans to speak to billionaire Elon Musk and may even ditch his red Tesla car, the White House said Friday after a stunning public divorce fraught with risk for both men. Trump's camp insisted that he wanted to move on from the row with the South African-born Musk, with officials telling AFP that the tech tycoon had requested a call but that the president was not interested. The Republican instead intended to focus on getting the US Congress to pass his 'big, beautiful' spending bill -- Musk's harsh criticisms of which had triggered the astonishing meltdown on Thursday. Fallout from the blow up between the world's richest person and its most powerful could be significant, as Trump risks political damage and Musk faces the loss of huge US government contracts. Trump phoned reporters at several US broadcast networks to insist that he was looking past the row. He called Musk 'the man who has lost his mind' in a call to ABC and told CBS he was 'totally' focused on the presidency. The White House meanwhile squashed earlier reports that they would talk. 'The president does not intend to speak to Musk today,' a senior White House official told AFP on condition of anonymity. A second official said it was 'true' that Musk had requested a call. - Tesla giveaway? - Tesla stocks tanked more than 14 percent on Thursday amid the row, losing some $100 billion of the company's market value, but recovering partly Friday. Trump was considering either selling or giving away the cherry red Tesla S that he announced he had bought from Musk's firm at the height of their relationship. The electric vehicle was still parked on the White House grounds on Friday. 'He's thinking about it, yes,' a senior White House official told AFP when asked if Trump would sell or give away the Tesla. Trump and Musk had posed inside the car at a bizarre event in March, when the president turned the White House into a pop-up Tesla showroom after viral protests against Musk's role as head of the cost-cutting Department of Government Efficiency (DOGE). - 'Expiration date' - The move came despite apparent efforts by Musk to de-escalate. On Thursday, the SpaceX boss briefly threatened to scrap his company's Dragon spacecraft -- vital for ferrying NASA astronauts to and from the International Space Station -- after Trump suggested he could end Musk's giant government contracts. But later in the day, Musk sought to deescalate, writing on his X social media platform: 'OK, we won't decommission Dragon.' The tech magnate also kept a low profile early Friday. But there is no clarity on how the two big egos will repair the relationship, which had already been fraying badly, causing tensions in the White House. Trade Advisor Peter Navarro, whom Musk once called 'dumber than a sack of bricks' in an argument over Trump's tariffs, refused to gloat but said the tycoon had an 'expiration date.' 'No, I'm not glad or whatever,' he told reporters. 'People come and go from the White House.' Vice President JD Vance also stuck by Trump amid the blazing row -- blasting what he called 'lies' that his boss was 'impulsive or short-tempered' -- but notably avoided criticizing Musk. The tensions burst into the open this week when Musk called Trump's flagship spending bill an 'abomination' because it raises the US deficit. Then in a televised Oval Office diatribe on Thursday, Trump said he was 'very disappointed' with Musk. The pair traded insults for hours on social media, with Musk at one point suggesting impeachment of Trump and signalling interest in forming a new political party.
The Sun
4 days ago
- Automotive
- The Sun
Trump has no plans to speak to billionaire Elon Musk
WASHINGTON: US President Donald Trump has no plans to speak to billionaire Elon Musk and may even ditch his red Tesla car, the White House said Friday after a stunning public divorce fraught with risk for both men. Trump's camp insisted that he wanted to move on from the row with the South African-born Musk, with officials telling AFP that the tech tycoon had requested a call but that the president was not interested. The Republican instead intended to focus on getting the US Congress to pass his 'big, beautiful' spending bill -- Musk's harsh criticisms of which had triggered the astonishing meltdown on Thursday. Fallout from the blow up between the world's richest person and its most powerful could be significant, as Trump risks political damage and Musk faces the loss of huge US government contracts. Trump phoned reporters at several US broadcast networks to insist that he was looking past the row. He called Musk 'the man who has lost his mind' in a call to ABC and told CBS he was 'totally' focused on the presidency. The White House meanwhile squashed earlier reports that they would talk. 'The president does not intend to speak to Musk today,' a senior White House official told AFP on condition of anonymity. A second official said it was 'true' that Musk had requested a call. - Tesla giveaway? - Tesla stocks tanked more than 14 percent on Thursday amid the row, losing some $100 billion of the company's market value, but recovering partly Friday. Trump was considering either selling or giving away the cherry red Tesla S that he announced he had bought from Musk's firm at the height of their relationship. The electric vehicle was still parked on the White House grounds on Friday. 'He's thinking about it, yes,' a senior White House official told AFP when asked if Trump would sell or give away the Tesla. Trump and Musk had posed inside the car at a bizarre event in March, when the president turned the White House into a pop-up Tesla showroom after viral protests against Musk's role as head of the cost-cutting Department of Government Efficiency (DOGE). - 'Expiration date' - The move came despite apparent efforts by Musk to de-escalate. On Thursday, the SpaceX boss briefly threatened to scrap his company's Dragon spacecraft -- vital for ferrying NASA astronauts to and from the International Space Station -- after Trump suggested he could end Musk's giant government contracts. But later in the day, Musk sought to deescalate, writing on his X social media platform: 'OK, we won't decommission Dragon.' The tech magnate also kept a low profile early Friday. But there is no clarity on how the two big egos will repair the relationship, which had already been fraying badly, causing tensions in the White House. Trade Advisor Peter Navarro, whom Musk once called 'dumber than a sack of bricks' in an argument over Trump's tariffs, refused to gloat but said the tycoon had an 'expiration date.' 'No, I'm not glad or whatever,' he told reporters. 'People come and go from the White House.' Vice President JD Vance also stuck by Trump amid the blazing row -- blasting what he called 'lies' that his boss was 'impulsive or short-tempered' -- but notably avoided criticizing Musk. The tensions burst into the open this week when Musk called Trump's flagship spending bill an 'abomination' because it raises the US deficit. Then in a televised Oval Office diatribe on Thursday, Trump said he was 'very disappointed' with Musk. The pair traded insults for hours on social media, with Musk at one point suggesting impeachment of Trump and signalling interest in forming a new political party.
The Sun
4 days ago
- Business
- The Sun
Trump says Musk has ‘lost his mind' as feud fallout mounts
WASHINGTON: US President Donald Trump said Friday that Elon Musk had 'lost his mind' but insisted he wanted to move on from the fiery split with his billionaire former ally. The blistering public break-up between the world's richest person and the world's most powerful is fraught with political and economic risks all round. Trump had scrapped the idea of a call with Musk and was even thinking of ditching the red Tesla he bought at the height of their bromance, White House officials told AFP. But Trump told US broadcasters that he now wanted to focus instead on passing his 'big, beautiful' mega-bill -- Musk's harsh criticism of which had sparked their break-up. But the 78-year-old Republican could not stop himself from taking aim at his South African-born friend-turned-enemy. 'You mean the man who has lost his mind?' Trump said in a call with ABC when asked about Musk, adding that he was 'not particularly' interested in talking to the tycoon. Trump later told Fox News that Musk had 'lost it,' while CNN quoted the president as saying: 'I'm not even thinking about poor guy's got a problem.' Just a week ago Trump gave Musk a glowing send-off as he left his cost-cutting role at the so-called Department of Government Efficiency (DOGE) after four months working there. - 'Very disappointed' - But while there had been reports of tensions, the sheer speed at which their relationship imploded stunned Washington. After Musk called Trump's spending bill an 'abomination' on Tuesday, Trump hit back in an Oval Office diatribe on Thursday in which he said he was 'very disappointed' by the tycoon. Trump's spending bill faces a difficult path through Congress as it will raise the US deficit, while critics say it will cut health care for millions of the poorest Americans. The row then went nuclear, with Musk slinging insults at Trump and accusing him without evidence of being in government files on disgraced financier and sex offender Jeffrey Epstein. Trump hit back with the power of the US government behind him, saying he could cancel the Space X boss's multi-billion-dollar rocket and satellite contracts. The right-wing tech baron apparently tried to deescalate. Musk rowed back on a threat to scrap his company's Dragon spacecraft -- vital for ferrying NASA astronauts to and from the International Space Station. And on Friday the usually garrulous poster kept a low social media profile on his X social network. But the White House denied reports that they would talk. 'The president does not intend to speak to Musk today,' a senior White House official told AFP. A second official said Musk had requested a call. - Tesla giveaway? - Tesla stocks tanked more than 14 percent on Thursday amid the row, losing some $100 billion of the company's market value, but recovering partly Friday. Trump is now considering either selling or giving away the cherry red Tesla S that he announced he had bought from Musk's firm in March. The electric vehicle was still parked on the White House grounds on Friday. 'He's thinking about it, yes,' a senior White House official told AFP when asked if Trump would sell or give it away. Trump and Musk had posed inside the car at a bizarre event in March, when the president turned the White House into a pop-up Tesla showroom after viral protests against Musk's DOGE role. But while Trump appeared to have many of the cards in their row, Musk also has some to play. His wealth allowed him to be Trump's biggest donor to his 2024 campaign, to the tune of nearly $300 million. Any further support for the 2026 midterms now appears in doubt -- while Musk could also use his money to undermine Trump's support on the right.
Japan Today
4 days ago
- Business
- Japan Today
Trump says Musk has 'lost his mind' as feud fallout mounts
Trump has no plans to speak to Musk, a White House official said By Danny KEMP U.S. President Donald Trump said Friday that Elon Musk had "lost his mind" but insisted he wanted to move on from the fiery split with his billionaire former ally. The blistering public break-up between the world's richest person and the world's most powerful is fraught with political and economic risks all round. Trump had scrapped the idea of a call with Musk and was even thinking of ditching the red Tesla he bought at the height of their bromance, White House officials told AFP. But Trump told U.S. broadcasters that he now wanted to focus instead on passing his "big, beautiful" mega-bill -- Musk's harsh criticism of which had sparked their break-up. But the 78-year-old Republican could not stop himself from taking aim at his South African-born friend-turned-enemy. "You mean the man who has lost his mind?" Trump said in a call with ABC when asked about Musk, adding that he was "not particularly" interested in talking to the tycoon. Trump later told Fox News that Musk had "lost it," while CNN quoted the president as saying: "I'm not even thinking about poor guy's got a problem." Just a week ago Trump gave Musk a glowing send-off as he left his cost-cutting role at the so-called Department of Government Efficiency (DOGE) after four months working there. But while there had been reports of tensions, the sheer speed at which their relationship imploded stunned Washington. After Musk called Trump's spending bill an "abomination" on Tuesday, Trump hit back in an Oval Office diatribe on Thursday in which he said he was "very disappointed" by the tycoon. Trump's spending bill faces a difficult path through Congress as it will raise the U.S. deficit, while critics say it will cut health care for millions of the poorest Americans. The row then went nuclear, with Musk slinging insults at Trump and accusing him without evidence of being in government files on disgraced financier and sex offender Jeffrey Epstein. Trump hit back with the power of the U.S. government behind him, saying he could cancel the Space X boss's multi-billion-dollar rocket and satellite contracts. The right-wing tech baron apparently tried to deescalate. Musk rowed back on a threat to scrap his company's Dragon spacecraft -- vital for ferrying NASA astronauts to and from the International Space Station. And on Friday the usually garrulous poster kept a low social media profile on his X social network. But the White House denied reports that they would talk. "The president does not intend to speak to Musk today," a senior White House official told AFP. A second official said Musk had requested a call. Tesla stocks tanked more than 14 percent on Thursday amid the row, losing some $100 billion of the company's market value, but recovering partly Friday. Trump is now considering either selling or giving away the cherry red Tesla S that he announced he had bought from Musk's firm in March. The electric vehicle was still parked on the White House grounds on Friday. "He's thinking about it, yes," a senior White House official told AFP when asked if Trump would sell or give it away. Trump and Musk had posed inside the car at a bizarre event in March, when the president turned the White House into a pop-up Tesla showroom after viral protests against Musk's DOGE role. But while Trump appeared to have many of the cards in their row, Musk also has some to play. His wealth allowed him to be Trump's biggest donor to his 2024 campaign, to the tune of nearly $300 million. Any further support for the 2026 midterms now appears in doubt -- while Musk could also use his money to undermine Trump's support on the right. © 2025 AFP
Yahoo
19-05-2025
- Automotive
- Yahoo
Why Tesla Stock Is Slumping Today
Investors have been pouring back into Tesla stock since CEO Elon Musk said he would renew his focus on the EV maker. Sales in the first quarter showed Tesla is losing market share. Investors may not be optimistic about the sales data coming soon out of China. These 10 stocks could mint the next wave of millionaires › Tesla (NASDAQ: TSLA) stock has been in recovery mode lately. After a months-long decline to start the year, shares have soared more than 40% in the last month. Much of that rebound came after CEO Elon Musk told analysts that he planned to spend more time at the electric vehicle (EV) maker and less in his role in Washington, D.C. The stock is slumping today, however, as many investors shift their focus to the EV business itself. And the numbers don't look promising. Shares dipped as much as almost 5% Monday morning and remained lower by 3.3% as of 11:35 a.m. ET. All eyes are now on Tesla's EV sales data, especially from China. Tesla delivered 13% fewer EVs in the first quarter, but those bullish on the stock pointed to a good reason for that decline. Telsa was finishing a refresh of its bestselling Model Y, which many investors believed would spur a sales push once completed. China is one key market for investors to watch. Yet the second quarter hasn't started well for Tesla sales in the largest global EV market. Registration data followed by Wall Street analysts showed Chinese sales plunged about 26% in April and the first half of May, Barron's reported over the weekend. That represents a sharp decline from the roughly flat China sales in the first quarter. The latest data should be released soon by the China Passenger Car Association (CPCA), and investors may be selling the stock in anticipation of more bad sales results. With sales plummeting in many European markets, the China market is becoming even more critical for Tesla. If the next report from the CPCA doesn't show a major turnaround, it's possible Tesla stock will continue the decline that began today. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $351,127!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $40,106!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $642,582!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of May 19, 2025 Howard Smith has positions in Tesla. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. Why Tesla Stock Is Slumping Today was originally published by The Motley Fool 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
