Washington DC – Elon Musk has seen his net worth plummet and Tesla’s stock price crash after launching an all-out war with his former ally, President Donald Trump.
The very public feud Trump wiped off at least $26.6 billion from Musk’s wealth, according to Forbes Real Time Billionaires list estimates.
Tesla stock prices also tumbled as a result, dropping 14% over the course of Thursday – nearly doubling the company’s losses since Trump was inaugurated in January.
Tesla’s value is down more than 30% in total since the beginning of the year, both as a consequence of the administration’s tariff policy and Musk’s unpopularity.
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With their relationship left in tatters due to a major disagreement over Trump’s signature bill, the two billionaires proceeded to launch withering insults and threats at each other.
The president hinted at withdrawing billions in government subsidies for Musk’s SpaceX, and seemed to blame the South African’s meltdown on the impact revoking electric vehicle mandates had on Tesla.
