The ongoing social media feud between U.S. President Donald Trump and tech billionaire Elon Musk has taken a dramatic new turn, with reports indicating that Musk’s net worth has dropped by a staggering $34 billion amid the clash.
The rift reportedly began after Musk claimed he played a major role in Trump’s 2024 presidential victory. In a bold post on X (formerly Twitter), Musk stated:
“Without me, Trump would have lost the election. Dems would have control of the House and Republicans would be 51 to 49 in the Senate.”
The comment ignited a fiery response from Trump, who allegedly threatened to take serious action against Musk’s business empire. According to sources, Trump is considering cutting off federal contracts tied to Musk’s companies, including Tesla and SpaceX, and scrapping the electric vehicle (EV) mandate, which was introduced under the Biden administration as part of green energy incentives.
The fallout has reportedly impacted investor confidence, contributing to the sharp decline in Musk’s net worth.
As the tension continues to unfold online, reactions are pouring in from political analysts, tech insiders, and the public, with many questioning the consequences of billionaires openly influencing political power, and the political backlash that can follow.
“I asked him to leave. I took away his EV mandate that forced everyone to buy electric cars that nobody else wanted” He stated.
Furthermore, Donald Trump suggested that terminating Elon Musk’s governmental subsidies and contracts would be a key way to economize financial resources in the American budget.
According to a recent report from Bloomberg, Elon Musk’s net worth plummeted by $33.9 billion, marking one of the worst single-day losses in personal wealth.
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