{"id":301692,"date":"2025-08-25T12:00:28","date_gmt":"2025-08-25T11:00:28","guid":{"rendered":"https:\/\/www.transcend.org\/tms\/?p=301692"},"modified":"2025-08-22T03:03:11","modified_gmt":"2025-08-22T02:03:11","slug":"trump-vs-musk-the-break-up","status":"publish","type":"post","link":"https:\/\/www.transcend.org\/tms\/2025\/08\/trump-vs-musk-the-break-up\/","title":{"rendered":"Trump vs. Musk: The Break-up"},"content":{"rendered":"
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Elon Musk and President Donald Trump
Brandon Bell \/ Getty Images via AFP<\/p><\/div>\n

19 Jul 2025\u00a0–\u00a0When Elon Musk and Donald Trump clash, it sends ripples through the markets. Here\u2019s a timeline detailing their turbulent relationship and its impact on Tesla and Musk\u2019s wealth.<\/em><\/p><\/blockquote>\n

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July 14, 2024<\/h3>\n

Following an assassination attempt on Trump<\/a> during a campaign rally, Musk publicly endorsed him, posting on X, \u201cI fully endorse President Trump and hope for his rapid recovery.\u201d<\/p>\n

October 5, 2024<\/h3>\n

Trump introduced Musk at a Pennsylvania rally, praising him for \u201csaving free speech\u201d and leading the \u201cfirst major American car company in generations.\u201d Musk then echoed the sentiment, labeling it \u201cthe most important election of our lifetime.\u201d<\/p>\n

October 24, 2024<\/h3>\n

Musk surpassed Miriam Adelson<\/a> to become the second-largest individual pro-Trump donor of the election cycle, donating nearly $120 million to a super PAC, later becoming the largest individual donor of the 2024 election cycle, shelling out $290 million.<\/p>\n

November 6, 2024<\/h3>\n

Following Musk\u2019s campaign efforts, Trump lauded him as a \u201csuper genius\u201d in his victory speech, while Musk hailed Trump\u2019s win on X, saying, \u201cthe future is gonna be fantastic.\u201d Tesla\u2019s stock soared 18.8% in just two days, reaching $288.5 by November 6, and two days later, its market value eclipsed $1 trillion for the first time since early 2022.<\/p>\n

November 12, 2024<\/h3>\n

Trump enlisted Musk<\/a> to co-lead the new Department of Government Efficiency (DOGE).<\/p>\n

December 11, 2024<\/h3>\n

Musk became the first person in the world to surpass a net worth of $400 billion, reaching $428 billion, driven by SpaceX\u2019s $350 billion valuation and his amplified influence from significant donations and close ties to Trump, which supported Tesla\u2019s stock.<\/p>\n

January 20, 2025<\/h3>\n

On Trump\u2019s second-term Inauguration Day, Musk spoke publicly, \u201cThis is what victory feels like.\u201d He added, \u201cI\u2019m super fired up for the future. It\u2019s going to be very exciting, as the president said we\u2019re going to have a golden age.\u201d Tesla\u2019s stock soared 70.8% in six months, reaching $424.07, with its market cap hitting $1.4 trillion by January 21, 2025.<\/p>\n

February 11, 2025<\/h3>\n

Musk\u2019s son, X, accompanied him during a White House appearance with President Trump, where Trump publicly referred to the kid as a \u201chigh IQ individual.\u201d Trump and Musk discussed their efforts to streamline government and combat waste, emphasizing the need for transparency and accountability in government spending.<\/p>\n

March 11, 2025<\/h3>\n

Criticism of Musk\u2019s government role led to Tesla\u2019s stock crashing more than 45.6% since January 21. In March, Trump publicly supported the billionaire by trying out a Tesla at the White House and announcing that he\u2019d purchase one. Tesla\u2019s share price rose by 3.8% to $230.6 on that day. Two days later, Musk received his first formal complaint alleging his work for the federal government violates conflict-of- interest laws.<\/p>\n

May 30, 2025<\/h3>\n

On his final day in office, Musk said he\u2019d remain a \u201cfriend and adviser\u201d to Trump despite stepping down from DOGE. Trump echoed that, saying Musk was \u201cnot really leaving.\u201d The departure came as DOGE faced major legal challenges over mass firings and alleged illegal access to government data.<\/p>\n

June 3, 2025<\/h3>\n

Following Musk\u2019s departure, he tweeted a post calling the spending bill a \u201cdisgusting abomination\u201d and shaming lawmakers who backed it. On the next day, Musk followed up with another post, warning that the bill \u201cdefeats all the cost savings achieved by the DOGE team at great personal cost and risk.\u201d<\/p>\n

June 5, 2025<\/h3>\n

In his first direct jab at Trump, \u2014and on Tesla\u2019s worst day on Wall Street since March, which saw Musk\u2019s net worth fell below $400 billion, sliding by $25.5 billion\u2014 Musk reposted a 2013 Trump tweet criticizing republicans for extending the debt ceiling\u2014a swipe at Trump\u2019s push to scrap the debt limit entirely under his policy bill. Trump also insinuated Musk\u2019s opposition was due to the removal of the EV tax credit. The feud intensified with Trump accusing Musk of \u201cTrump derangement syndrome\u201d and threatening to end his government contracts. Musk fired back, denying Trump\u2019s claims, asserting his crucial role in Trump\u2019s election win, and even briefly threatening to decommission SpaceX\u2019s Dragon spacecraft, before he backtracked.<\/p>\n

June 6, 2025<\/h3>\n

Musk signaled a willingness to de-escalate the feud, agreeing with hedge-fund billionaire Bill Ackman\u2019s suggestion that he and Trump \u201cshould make peace.\u201d Trump said that Musk had \u201clost his mind,\u201d and reportedly considered selling his recently acquired Tesla car. Tesla ended that week down 14.8% at $295.14.<\/p>\n

June 7, 2025<\/h3>\n

Musk deleted his posts linking Trump to the late former financier Jeffrey Epstein\u2019s files<\/a> and endorsing impeachment, though other critical posts remained.<\/p>\n

June 9, 2025<\/h3>\n

Musk reposted Trump and Vice President JD Vance\u2019s criticism of California officials for their handling of Los Angeles protests<\/a>, suggesting his ire toward Trump had cooled after the public blow-up.<\/p>\n

June 11, 2025<\/h3>\n

Musk tweeted he regretted some of his posts about Trump from the previous week, admitting they \u201cwent too far.\u201d Trump reportedly responded that Musk\u2019s apology was \u201cvery nice.\u201d That day, Tesla stock rebounded to $326.4, recovering most feud-driven losses, while Musk\u2019s net worth rose $147.4 billion to $411.2 billion compared to November 1, 2024, but declined by $11.8 billion from June 1, 2025, before the feud.<\/p>\n

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Hagar Omran\u00a0<\/a><\/b>Forbes Middle East Staff – I<\/span>‘m a Senior Reporter at <\/em>Forbes Middle East. I have 10 years of experience in financial journalism. I\u2019ve also covered Egypt\u2019s international cooperation files including foreign embassy’s activities in Egypt as well as international financial institutions. I graduated from Faculty of Mass Communication, Cairo University in 2010.<\/em><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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