It only took a few hours to wipe $152 billion of value from Tesla’s market cap and $250 million in value from TrumpCoin Thursday as President Trump and Elon Musk publicly and viciously feuded over the “Big Beautiful Bill.”
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Tesla’s stock is now down 14 percent at the time of writing, which is the biggest single-day hit to its share price in years. Trump’s crypto coin is down nearly 10 percent.
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The stakes are high here for everyone: -Trump claimed he would terminate Musk’s government contracts -Musk said that he would decommission SpaceX’s Dragon spacecraft, which NASA uses for transport to the International Space Station
World leaders may want to reconsider how prudent it is to have billionaire Tech-Bro man baby tech in their national security space. Also, how vulnerable they are to extortion if they say no to one of their demands @msnbc.com
Meanwhile, Steve Bannon is urging an investigation into Musk’s immigration status, calling him an “illegal alien.” It has been reported that Musk may have lied on his visa forms, which could put his citizenship at risk, as we reported in 2024.
Tesla’s stock drop comes at a delicate time for the company, as it prepared to debut its long-awaited (and much-delayed) robotaxi service in Austin, Texas. Read the full story: www.wired.com/story/musk-t...
This needs way more air. Musk's brother admits they acted illegally, while Elon himself flippantly asserts it was a grey area. youtu.be/9Hvr0gYlXKs?...