Latest news with #WarRoomLive
International Business Times
4 days ago
- Business
- International Business Times
Can Trump Take Over SpaceX? Calls to Seize SpaceX from Musk Grow after 'First Buddy' Threatens to Leave NASA Astronauts Stranded in Space
Donald Trump is facing calls to immediately seize control of SpaceX after Elon Musk threatened to leave NASA astronauts stranded in orbit during a heated clash with the former president. Musk reportedly said that he would not help the government and leave the NASA astronauts stranded in space on their own. Musk's open threat has infuriated MAGA supporters. In a fiery exchange on Thursday afternoon, Trump responded to Musk's growing accusations by proposing that the tech billionaire's multi-billion-dollar government contracts should be revoked. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts," Trump said on Truth Social. Trump-Musk Feud Gets Dirtier Musk immediately hit back at Trump, announcing that he would start "decommissioning" SpaceX's Dragon spacecraft. The vehicle plays a crucial role in transporting NASA astronauts to and from the International Space Station. Steve Bannon, Trump's former senior adviser and a vocal opponent of Musk, quickly addressed the situation on his "War Room Live" broadcast Thursday. He called on Trump to seize control of SpaceX from Musk and to use the Defense Production Act — a national security law from the Korean War period — to assert government authority over the company. "The United States government should take possession of it," Bannon declared. In reality, taking over SpaceX—a privately owned company—would be highly challenging for Trump. Although the Defense Production Act gives the president extensive authority to prioritize contracts vital to national defense, boost production capabilities, and manage essential resources such as energy, materials, and services, it does not specifically allow the outright takeover or nationalization of private businesses. However, Trump could still put pressure on Musk through other means, such as revoking federal contracts, security clearances, or partnerships. Trump's Next Move Unclear SpaceX holds several key contracts linked to U.S. national security, including military versions of its Starlink satellites for the Pentagon and its involvement in NASA's Artemis mission to send astronauts back to the Moon. Nevertheless, Bannon pushed even further, calling for Musk to be stripped of his security clearance and for all federal contracts awarded to his companies to be frozen while a thorough investigation is conducted. Bannon also took it a step further by demanding that Trump begin deportation procedures against Musk. "Elon Musk is here illegally. He's got to go," Bannon said, despite the fact that Musk, who was born in South Africa, has been a U.S. citizen for over two decades. "They should initiate a formal investigation of his immigration status because I am of the strong belief that he is an illegal alien, and he should be deported from the country immediately," Bannon told the New York Times in a phone interview on Thursday. After the disintegration in the relationship between Trump and Musk, the SpaceX CEO announced on X that he had made the decision to begin decommissioning the company's Dragon spacecraft "immediately." This announcement came in response to Trump's post on Truth Social, where he said he was considering ending all U.S. government contracts with Musk's private space firm. If the Dragon capsule is decommissioned, NASA would be left without a reliable American spacecraft to send and retrieve astronauts to and from the International Space Station. At present, four NASA astronauts are aboard the ISS, and it remains unclear whether Musk would permit them to return to Earth using the Dragon capsule currently docked at the station.
Time of India
4 days ago
- Business
- Time of India
Brooos please nooo: In Trump vs Musk, Ye (Kanye West) and Bill Ackman try to play the peacemaker
Once seen side by side at Mar-a-Lago and the White House, President Donald Trump and Tesla CEO Elon Musk are now locked in a very public and politically charged feud. The fallout has triggered not just a market reaction—Tesla shares plunged over 14%—but also a flood of commentary from billionaires, political figures and investors urging the two to reconcile. The tipping point came this week when Trump threatened to revoke billions in government contracts and subsidies to Musk's companies. Musk, in turn, declared he would end SpaceX's Dragon spacecraft operations and went as far as suggesting Trump's name was being suppressed in the Jeffrey Epstein documents. Bill Ackman, Ye and Jim Jordan appeal for peace On Thursday, hedge fund billionaire Bill Ackman made a direct appeal for calm. Posting on X, Ackman wrote: by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 새로 나온 '실손보험' 최적가 비교가입! "월 보험료 줄이고, 보장은 실속있게"... 굿리치 보험대리점 (등록번호:제2006038313호) 가격 받기 Undo 'I support @realDonaldTrump and @elonmusk and they should make peace for the benefit of our great country. We are much stronger together than apart.' — elonmusk (@elonmusk) Live Events Musk replied, 'You're not wrong.' The call was echoed by rapper Ye, formerly known as Kanye West, who added on X, 'Broooos please noooooo 🫂 We love you both so much.' — kanyewest (@kanyewest) Meanwhile, Congressman Jim Jordan told Fox News' Laura Ingraham, 'I hope Elon Musk and Trump will reconcile.' Steve Bannon suggests SpaceX takeover Not everyone is in a forgiving mood. Steve Bannon, once a close Trump ally and now a critic of Musk, took a harsher stance. On his War Room Live show, Bannon said: 'The U.S. government should seize it,' referring to SpaceX. 'The administration should strip Musk of his security clearance and suspend all federal contracts to Musk's companies, pending an investigation.' Bannon called on Trump to use the Defence Production Act to nationalise SpaceX, citing national security. Musk lashes out over tax bill The dispute began when Musk publicly criticised Trump's Republican tax bill, labelling it the 'Big Ugly Spending Bill' on X. He argued that its elimination of electric vehicle tax credits would worsen the national deficit. Musk said he had never seen the final version of the bill, which was rushed through overnight. Trump responded during a White House briefing, accusing Musk of 'Trump Derangement Syndrome' and insisted Musk had been consulted. Behind the policy fight is a deeper breakdown. Musk, who once chaired Trump's Department of Government Efficiency, now accuses him of policy sabotage and political betrayal. Wall Street reacts: Tesla shares plummet The market impact was immediate. Tesla shares plunged more than 14% as investors panicked over the political fallout. Dan Ives of Wedbush described the clash as, 'Jaw dropping and a shock to the market.' He warned it could reshape the regulatory landscape for autonomous vehicles under Trump's leadership. Still, Ives maintained a bullish view on Tesla, calling the row a 'fly in the ointment' rather than a full reversal. Ross Gerber of Gerber Kawasaki took a harsher tone, 'Elon going postal on Trump and Tesla stock is getting walloped. Trump will be returning his new Tesla and is saying he got musked. All this can't be good for shareholders.' Speculation on new political alliances Musk's suggestion of forming a centrist political party gained traction. Billionaire Mark Cuban supported the idea, and former candidate Andrew Yang amplified it, imagining a 2028 Independent primary featuring Cuban, JPMorgan CEO Jamie Dimon and actor Matthew McConaughey. Political analyst Ian Bremmer weighed in, posting on X, 'Trump is more powerful than elon, but far less competent.' Strategic fallout: National security concerns grow David Rosenberg, of Rosenberg Research, warned the feud may undermine U.S. dominance in space technology: 'The politics of what Musk is doing may actually be the most significant part of that.' Given SpaceX's central role in U.S. aerospace and defence strategy, any disruption to its federal contracts could have far-reaching consequences. From allies to adversaries: a relationship in reverse Until recently, Musk and Trump were close. Musk had endorsed Trump after he survived an assassination attempt, celebrated with him on election night, and even brought his son to the Oval Office. But all of that collapsed this week. On Thursday, Musk stepped down from his role at the Department of Government Efficiency. He launched into a stream of critical posts, while Trump fired back on Truth Social. The split may have started over tax policy, but now it's personal—and political. And with both men commanding immense influence over money, media and public opinion, their feud could reshape not just alliances, but elections.
CNBC
4 days ago
- Automotive
- CNBC
Trump and Musk feud draws reactions from billionaires, politicians and pundits. Here's who said what
Donald Trump and Elon Musk seemed inseparable not so long ago: attending events together, doing joint interviews and showering praises on each other. All that changed overnight. Trump and Musk traded barbs in a rather public feud, with the U.S. president threatening to pull back billions of dollars in government contracts for Musk's companies, while the Tesla CEO suggested Trump could not have won the election without him. The hostilities began when Trump lashed out at Musk's criticism of the Republican tax-cut and spending bill, and quickly escalated into an all-out online brawl on Trump's Truth Social and Musk's X, with prominent businessmen, analysts and political names weighing in on the fight. Billionaire Bill Ackman on Thursday urged Trump and Musk to stop fighting. The two men should "make peace for the benefit of our country," Ackman said on X. The founder and chief executive of hedge fund Pershing Square Capital Management, who had endorsed Trump a few months before the November election, said "We are much stronger together than apart," with Musk replying: "You're not wrong." U.S. Congressman Jim Jordan told Fox News' Laura Ingraham on Thursday that he hoped Elon Musk and Trump would reconcile, while defending the budget bill. Others in Trump's orbit, such as former senior Trump adviser Steve Bannon, who has clashed with Musk in recent months, were less conciliatory. Bannon said on his "War Room Live" show Thursday that Trump should sign an executive order to take control of SpaceX, through a national security mobilization law called the Defense Production Act. "The U.S. government should seize it," Bannon said, adding that the administration should strip Musk of his security clearance and suspend all federal contracts to Musk's companies, pending an investigation into them. Billionaire investor Mark Cuban seemingly endorsed a proposal from Musk, who had polled followers on whether to "create a new political party in America that actually represents the 80% in the middle." Former Presidential Candidate Andrew Yang reposted Cuban, later pitching an "Independent '28 presidential primary" with participants including Mark Cuban, Jamie Dimon, and actor Matthew McConaughey . Eurasia Group's Ian Bremmer stated in a post on X that "Trump is more powerful than elon, but far less competent." Wall Street traders dumped Tesla shares, sending them plummeting over 14%. Dan Ives, managing director and senior equity research analyst at Wedbush said in a research note that the conflict was "jaw dropping and a shock to the market," creating major fear for Tesla investors. "Tesla's stock is under major pressure down 15% as investors fear that this Musk/Trump battle will stop their friendship and change the regulatory environment for Tesla on the autonomous front over the coming years under the Trump Administration," Ives said. However, Ives added that the spat had not changed Wedbush's bullish view on Tesla, though it "clearly does put a fly in the ointment of the Trump regulatory framework going forward." Another Tesla-bull, Ross Gerber, head of Gerber Kawasaki Wealth and Investment Management, had harsh words for Musk in a series of X posts, stating that Elon was "now attacking all the people he helped put in power." "Elon going postal on Trump and tesla stock is getting walloped. Trump will be returning his new tesla and is saying he got musked. All this can't be good for shareholders. But hey, who cares about us," he said in a post. Gary Black, Future Fund's Managing Director, who recently said on X that this firm had sold all its Tesla shares, argued that Trump and Elon's feud would put further pressure on the stock, taking aim at Tesla bulls. "These same bulls argued for months that the Musk-Trump alliance would streamline the federal process allowing TSLA to secure general unsupervised autonomy license nationally. That prospect is now highly unlikely," he said in an X post. David Rosenberg, president and founder of Rosenberg Research believes Musk's SpaceX provides a huge lead in for America's dominance in space technology and the ongoing feud could erode its support. "There's a small group of Republicans that are unsure about that for various reasons, and many of them have cited Elon Musk's opposition to that [spending] bill as a reason that they will not vote for it. So the politics of what Musk is doing may actually be the most significant part of that," Rosenberg told CNBC's Squawk Box.
Yahoo
4 days ago
- Business
- Yahoo
Steve Bannon Urges Trump to Seize SpaceX and Deport Elon Musk
Steve Bannon, a former adviser to President Trump and a vocal critic of Elon Musk, urged Trump to retaliate against the SpaceX leader by targeting his business. Bannon said on his 'War Room Live' show Thursday that Trump should sign an executive order to use the Korean War-era national security mobilization law called the Defense Production Act to take control of SpaceX.
