Latest news with #Trump-created
Mint
3 days ago
- Business
- Mint
Elon Musk drops bombshell as feud intensifies: ‘Trump is in Epstein files. That's why they have not been made public'
Elon Musk has made a startling claim that Donald Trump is mentioned in files connected to convicted sex offender Jeffrey Epstein. Musk shared the allegation on his platform X (formerly Twitter), but did not present any proof to back it up. "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 posted. He followed up with another remark: "Mark this post for the future. The truth will come out." The comments mark a sharp escalation in the increasingly bitter public spat between Musk and Trump. The feud deepened after Musk denounced Trump's signature tax and spending bill, calling it: "A disgusting abomination… massive, outrageous, pork-filled." Trump responded telling reporters: "I'm very disappointed in Elon. I've helped Elon a lot." He also suggested the billionaire entrepreneur suffered from 'Trump Derangement Syndrome' and was lashing out because he missed being in government. Musk's comments came just days after he exited from his role as head of the Department of Government Efficiency (DOGE), a Trump-created agency aimed at streamlining federal operations. His departure appears to have accelerated the fallout. Responding to Trump's claim that he was upset about changes to electric vehicle incentives, Musk flatly denied being involved in the bill's planning: "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!" In another post, Musk boasted that his support had been instrumental in Trump's political fortunes: "Without me, Trump would have lost the election. Dems would control the House and the Republicans would be 51-49 in the Senate."
Saudi Gazette
3 days ago
- Automotive
- Saudi Gazette
Trump and Musk feud erupts into political warfare as former allies turn rivals
WASHINGTON — A bitter political feud between US President Donald Trump and tech billionaire Elon Musk exploded into full public view this week, ending an unusual alliance that once saw Musk holding significant influence in the Trump administration. Speaking from the Oval Office on Thursday, Trump expressed sharp disappointment in Musk's recent criticisms of his economic policies. He dismissed the idea that Musk's support had been decisive in last year's election, and accused him of turning against the administration because of Republican efforts to end electric vehicle tax credits — a move that could impact Tesla directly. 'Elon and I had a great relationship,' Trump said, notably using the past tense. 'I'm very disappointed in him.' Musk, for his part, responded on his platform X with a curt 'Whatever,' accusing Trump of ingratitude. He insisted his criticism stemmed from concern over America's mounting national debt, not any loss of subsidies. 'Democrats would have won even without me,' he falling-out marks the end of a high-profile and controversial political had been appointed as head of the Trump-created Department of Government Efficiency (DOGE), tasked with slashing federal agencies and reducing bureaucracy—an appointment that made headlines around the department eliminated entire federal bodies and laid off thousands, placing Musk at the heart of Trump's budget reform tension between the two personalities had been long predicted, they maintained a united front through earlier regularly appeared at Trump's side — whether in the Oval Office, Cabinet meetings, or aboard Air Force partnership formally ended last week when Musk's 130-day stint as a "special government employee" received a symbolic golden key to the White House during his send-off. But any potential return is now off the frustration reportedly intensified after Musk publicly criticized the administration's tax-and-spending retaliation, Trump hinted at cancelling government contracts and subsidies involving Musk-linked companies.'The easiest way to save billions is to terminate Elon's governmental subsidies and contracts,' Trump posted on his own social media stock dipped on Thursday following the escalating Republicans divided and Musk potentially funding primary challengers to Trump-aligned candidates, the feud threatens to split conservative ranks ahead of next year's influence — financial and rhetorical — could sway tight races or disrupt GOP meanwhile, are watching from the sidelines. While some remain wary of Musk given his prior ties to Trump, others welcome the infighting.'Anything that pushes Musk closer to Democrats weakens the Republicans,' said strategist Liam Musk's tenure in government is over, his influence endures. He ended his latest post with a final jab:'Trump has 3.5 years left as president,' Musk wrote on X. 'But I'll be around for 40-plus years.'
Yahoo
3 days ago
- Business
- Yahoo
Tesla stock sinks as 'disappointed' Trump threatens subsidies, contracts for Musk's businesses
Tesla (TSLA) stock extended a two-day slide on Thursday as the very public fallout between its CEO Elon Musk and President Trump escalated and Trump threatened to slash government contracts and subsidies key to Musk's businesses. "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 wrote on Truth Social. Tesla stock fell to session lows on Thursday afternoon as the two traded barbs, falling as much as 15% near 3 p.m. ET. Earlier in the day, Trump tore into Musk from the Oval Office after days of the Tesla CEO's public protests against Trump's giant tax bill working its way through Congress. "I'm very disappointed, because Elon knew the inner workings of this bill better than almost anybody sitting here, better than you people," Trump said to reporters in the Oval Office on Thursday. "All of a sudden, he had a problem, and he only developed the problem when he found out that we're going to have to cut the EV mandate." "Elon and I had a great relationship. I don't know if we will anymore. I was surprised," Trump added. Musk posted on X, the social media platform he owns, in apparent response to Trump's comments, "Whatever." He continued aiming at the president and the bill in a subsequent barrage of posts over several hours. Trump's comments amounted to an extraordinary public rebuke of Musk, who went from Trump booster and Republican party megadonor during the 2024 campaign to the head of the Trump-created Department of Government Efficiency (DOGE) with a stated mission to cut spending. Musk kicked off the complaints over the bill earlier this week, calling it a "disgusting abomination" on Tuesday. The billionaire ramped up his barbs on Wednesday, telling users on X to "Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL." The Wall Street Journal also reported that the strain between the two was amplified by the White House's move to nix the nomination of Jared Isaacman for NASA administrator. Musk, a close ally of Isaacman, had advocated for him to get the job, sources told the Journal. The bill faces an uncertain future in the Senate, with a Congressional Budget Office estimation of its impact on the deficit adding fuel to Musk's line of argument. The nonpartisan office projected the House-passed version of the bill would add $2.4 trillion to deficits over the next 10 years. DOGE itself, once led by Musk, has been criticized for not producing the budgetary cuts Musk touted it could find — and the cuts it has produced have been deeply unpopular. Musk's ties to the Trump administration had been seen as a boon for his broader business interests, given SpaceX's close work with NASA and regulatory levers the National Highway Traffic Safety Administration could pull in getting autonomous driving rules in place for Tesla's robotaxi testing. Read more: How to avoid the sticker shock on Tesla car insurance But demand weakness in the EU and recent protests at US Tesla showrooms have followed Musk's controversial foray into politics as some Tesla owners have become alienated by Musk, specifically by his right-leaning tendencies, DOGE, and outward support of President Trump. Tesla's big robotaxi test is slated for June 12 in Austin. Much of the company's value is tied to whether it can fully unlock autonomous driving for robotaxi purposes and individual owners. Meanwhile, Alphabet's (GOOG, GOOGL) Waymo continues to plow ahead and is essentially the leader in the space, accumulating 250,000 robotaxi trips per week. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 days ago
- Automotive
- Yahoo
Tesla stock slides as 'disappointed' Trump threatens subsidies, contracts for Musk's businesses
Tesla (TSLA) stock extended a two-day slide on Thursday as the very public fallout between its CEO Elon Musk and President Trump escalated, and Trump threatened to slash government contracts and subsidies key to Musk's business. "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 wrote on Truth Social. Tesla stock fell to session lows on Thursday afternoon as the two traded barbs, falling as much as 13.3% near 3 p.m. ET. Earlier in the day, Trump tore into Musk from the Oval Office after days of the Tesla CEO's public protests against Trump's giant tax bill working its way through Congress. "I'm very disappointed, because Elon knew the inner workings of this bill better than almost anybody sitting here, better than you people," Trump said to reporters in the Oval Office on Thursday. "All of a sudden he had a problem, and he only developed the problem when he found out that we're going to have to have to cut the EV mandate." "Elon and I had a great relationship. I don't know if we will anymore. I was surprised," Trump added. Musk posted on X, the social media platform he owns, in apparent response to Trump's comments: "Whatever." He continued aiming at the president and the bill in a subsequent barrage of posts over several hours. Trump's comments amounted to an extraordinary public rebuke of Musk, who went from Trump booster and Republican Party megadonor during the 2024 campaign, to the head of the Trump-created Department of Government Efficiency (DOGE) with a stated mission to cut spending. Musk kicked off the complaints over the bill earlier this week, calling it a "disgusting abomination" on Tuesday. The billionaire ramped up his barbs on Wednesday, telling users on X to, "Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL." The Wall Street Journal also reported that the strain between the two was amplified by the White House's move to nix the nomination of Jared Isaacman for NASA administrator. Musk, a close ally of Isaacman, had advocated for him to get the job, sources told the Journal. The bill faces an uncertain future in the Senate, with a Congressional Budget Office estimation of its impact on the deficit adding fuel to Musk's line of argument. The nonpartisan office projected the House-passed version of the bill would add $2.4 trillion to deficits over the next 10 years. DOGE itself, once led by Musk, has been criticized for not producing the budgetary cuts Musk touted it could find — and the cuts it has produced have been deeply unpopular. Musk's ties to the Trump administration had been seen as a boon for his broader business interests, given SpaceX's close work with NASA and regulatory levers the National Highway Traffic Safety Administration could pull in getting autonomous driving rules in place for Tesla's robotaxi testing. Read more: How to avoid the sticker shock on Tesla car insurance But demand weakness in the EU and recent protests at US Tesla showrooms have followed Musk's controversial foray into politics, causing some Tesla owners to become alienated by Musk, specifically by his right-leaning tendencies, DOGE, and outward support of President Trump. Tesla's big robotaxi test is slated for June 12 in Austin. Much of the company's value is tied to whether it can fully unlock autonomous driving for robotaxi purposes and individual owners. Meanwhile, Alphabet's (GOOG, GOOGL) Waymo continues to plow ahead and is essentially the leader in the space, accumulating 250,000 robotaxi trips per week. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram.
Yahoo
3 days ago
- Automotive
- Yahoo
Tesla stock slides as 'disappointed' Trump, Musk trade insults after Musk bashes megabill
Tesla (TSLA) stock extended a two-day slide on Thursday as the very public fallout between its CEO Elon Musk and President Trump escalated. "I'm very disappointed, because Elon knew the inner workings of this bill better than almost anybody sitting here, better than you people," Trump said to reporters in the Oval Office on Thursday. "All of a sudden he had a problem, and he only developed the problem when he found out that we're going to have to have to cut the EV mandate." "Elon and I had a great relationship. I don't know if we will anymore. I was surprised," Trump added. Tesla stock fell to session lows on Thursday afternoon as Musk reacted in real-time to Trump's comments, falling over 11% near 2:45 p.m. ET. Musk posted on X, the social media platform he owns, in apparent response to Trump's comments: "Whatever." He continued aiming at the president and the bill in a subsequent barrage of posts over several hours. That prompted another response from Trump, who posted on Truth Social, the platform that he owns. Trump said he "asked" must to leave his government post, charging that he was "wearing thin." He also seemed to question the purpose of Musk's department. "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 wrote. Trump's comments amounted to an extraordinary public rebuke of Musk, who went from Trump booster and Republican Party megadonor during the 2024 campaign, to the head of the Trump-created Department of Government Efficiency (DOGE) with a mission to cut spending. Musk kicked off the complaints over the bill earlier this week, calling it a "disgusting abomination" on Tuesday. The billionaire ramped up his barbs on Wednesday, telling users on X to, "Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL." The Wall Street Journal also reported that the strain between the two was amplified by the White House's move to nix the nomination of Jared Isaacman for NASA administrator. Musk, a close ally of Isaacman, had advocated for him to get the job, sources told the Journal. Bloomberg reported that Musk's ire may also be directed at the fact that the federal EV tax credit is being phased out by the bill, as he fought hard to keep it in place as a key driver for Tesla's business. The Big Beautiful Bill faces an uncertain future in the Senate, with a Congressional Budget Office estimation of its impact on the deficit adding fuel to Musk's line of argument. The nonpartisan office projected the House-passed version of the bill would add $2.4 trillion to deficits over the next 10 years. DOGE itself, once led by Musk, has been criticized for not producing the budgetary cuts Musk touted it could find — and the cuts it has produced have been deeply unpopular. Musk's ties to the Trump administration had been seen as a boon for his broader business interests, given SpaceX's close work with NASA and regulatory levers the National Highway Traffic Safety Administration could pull in getting autonomous driving rules in place for Tesla's robotaxi testing. Read more: How to avoid the sticker shock on Tesla car insurance But demand weakness in the EU and recent protests at US Tesla showrooms have followed Musk's controversial foray into politics, causing some Tesla owners to become alienated by Musk, specifically by his right-leaning tendencies, DOGE, and outward support of President Trump. Tesla's big robotaxi test is slated for June 12 in Austin. Much of the company's value is tied to whether it can fully unlock autonomous driving for robotaxi purposes and individual owners. Meanwhile, Alphabet's (GOOG, GOOGL) Waymo continues to plow ahead and is essentially the leader in the space, accumulating 250,000 robotaxi trips per week. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram. Sign in to access your portfolio
