Elon Musk, who was once Trump's biggest supporter, has now become one of his biggest critics. Musk is publicly criticizing Trump and Trump has also publicly retaliated. Trump has threatened to stop government contracts to Tesla and SpaceX. Due to this Musk is likely to suffer huge losses. Also, after clashing with Trump, the shares of Musk's company Tesla have fallen drastically. According to media reports, due to the fall in Tesla's shares, Elon Musk has suffered a loss of about $ 380 billion (about Rs 32 lakh crore) since January.
Tesla's market capitalization decreased by 29 percent.
Tesla's market capitalization has decreased by 29 percent and this year Tesla has been the worst performer among large-cap stocks. At the beginning of the year 2025, Tesla was the eighth largest company in the whole world, now it has come to 10th place. As the head of the Department of Government Efficiency in the Trump administration, Musk cut a large number of federal government expenses. During this time, a large number of people were fired from their jobs. Musk also had to face opposition to this and people in America vandalized Tesla and Tesla showrooms. Tesla also suffered a lot due to this.
Tesla shares fell 14 percent in a day.
After the tussle with Trump, Tesla's shares fell by 14 percent on June 6. Due to which the company has lost $ 150 billion in a day. This is one of the biggest losses suffered by any company in a day. Musk's troubles are still not over because Trump has threatened to end the government contracts of Musk's companies Tesla and SpaceX in a post shared on social media.
What is the reason for the tussle between Trump and Musk?
The reason for the tussle between Trump and Musk is regarding the tax bill being brought by the Trump administration. Musk is opposing this bill. Whereas Trump says that the purpose of this bill is to cut taxes, increase the defense budget and strengthen border security. However, the compulsion of electric vehicles has been abolished in this bill. Along with this, the $7500 discount on buying an EV has also been abolished. It is believed that Musk may object to these provisions.
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