Elon Musk loses $34 billion in a day after Trump feud turns ugly

Elon Musk’s net worth dropped by $34 billion in one day. This decline coincided with his public feud with President Donald Trump.

Tesla’s stock fell nearly 14%. This loss wiped out about $150 billion from the company’s market value.

The conflict began when Musk criticized Trump’s $2.4 trillion tax reform plan. He called it the “Debt Slavery Bill.” Trump responded by threatening to pull federal contracts from Musk's companies, including Tesla and SpaceX.

Musk then made serious accusations against Trump, linking him to Jeffrey Epstein. He even suggested grounding SpaceX’s Dragon spacecraft, a key asset for NASA, but later retracted those comments.

Investors became anxious about potential regulatory issues. They worried this clash could affect electric vehicle tax credits and destabilize Musk's business empire.

Analysts caution that this high-profile conflict might harm Tesla's growth and create ongoing uncertainty.

Despite the significant loss, Musk remains the world’s richest person. His net worth is around $335 billion.