US President Donald Trump has publicly expressed his disapproval of Elon Musk, stating that the billionaire has “lost his mind”. Despite this, Trump claims he wants to move on from their recent public split. The feud began when Musk criticized Trump’s spending bill, calling it an “abomination”, prompting Trump to respond with a threat to strip Musk of his substantial government contracts.
Trump’s sentiments towards Musk were evident in his comments to reporters aboard Air Force One, where he mentioned that he was preoccupied with more pressing matters, such as working on China, Russia, and Iran. “Honestly, I’ve been so busy working on China, working on Russia, working on Iran… I’m not thinking about Elon Musk, I just wish him well,” Trump said. When asked about Musk, Trump told ABC news, “You mean the man who has lost his mind?” and added that he was “not particularly” interested in talking to him. Trump later told Newsmen that Musk had “lost it”.
The public break-up between the world’s richest person and the world’s most powerful leader carries significant political and economic risks. Trump had previously given Musk a glowing send-off as he left his role at the Department of Government Efficiency (DOGE) after four months. However, their relationship deteriorated rapidly after Musk’s criticism of the spending bill, which Trump claimed would raise the US deficit and cut healthcare for millions of Americans.
In response to Musk’s insults, Trump threatened to cancel SpaceX’s multi-billion-dollar rocket and satellite contracts. While Trump later adopted a milder tone, stating that he would consider cutting Musk’s contracts only if it were fair for both parties, Musk attempted to de-escalate the situation by rowing back on his threat to scrap the Dragon spacecraft. The White House has denied reports of a potential call between the two, with a senior official saying, “The president does not intend to speak to Musk today”.
The feud has also affected Tesla, with the company’s stocks plummeting over 14% amid the row, losing around $100 billion in market value. Trump is now considering selling or giving away the cherry red Tesla S he purchased from Musk’s firm in March. Musk’s significant donation of nearly $300 million to Trump’s 2024 campaign may also be impacted, with further support for the 2026 midterm election now in doubt.