Elon Musk Loses $34 Billion in One Day as Feud with Trump Boils Over
The escalating feud between tech billionaire Elon Musk and former U.S. President Donald Trump has taken a sharp financial toll—costing Musk a jaw-dropping $34 billion in just one day.
According to Bloomberg, the historic loss is the second-largest single-day wealth drop ever recorded on the Bloomberg Billionaires Index, trailing only Musk’s own record dip in November 2021. The plunge followed a 14% crash in Tesla shares, which closed Thursday at $284.70.
The financial blow comes amid a public falling out between Musk and Trump, largely centered around a controversial budget bill passed by Congress and backed by the Trump-led Republican administration.
Musk, who has previously supported Trump on several fronts, turned sharply critical—accusing the former president of ingratitude.
“Without me, Trump would have lost the election,” Musk posted on X. “Dems would control the House and Republicans would be 51-49 in the Senate. Such ingratitude.”
Trump responded during a press conference alongside German Chancellor Friedrich Merz, expressing disappointment in Musk’s recent criticism.
“Elon knew the inner workings of this bill better than almost anybody,” Trump said. “I’m very disappointed. All of a sudden he had a problem.”
He also hinted that Musk could be next on his list of personal targets, saying:
“He hasn’t said bad things about me personally—but I’m sure that’ll be next.”
Musk wasted no time denying Trump’s claims, saying the bill was passed so quickly that even Congress didn’t have time to read it, let alone him.
“False. This bill was never shown to me even once,” Musk wrote. “It was passed in the dead of night so fast that almost no one in Congress could even read it!”
Amid the dispute, Trump reportedly threatened to cut billions in federal contracts to Musk’s companies—heightening concerns over political retaliation.
Musk has repeatedly slammed the budget bill on his social media platform, calling it a “disgusting abomination” and warning it would explode the U.S. deficit to $2.5 trillion.
“This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it,” Musk wrote.
“Congress is making America bankrupt.”
The bill, described by Trump as “one big beautiful bill,” includes $46.5 billion for border wall construction and extends tax cuts from his first term—priorities that Musk openly criticized in a string of increasingly hostile posts.
The public fallout between two of the most powerful figures in tech and politics is sending shockwaves through Wall Street and Washington alike—raising questions about the future of federal contracts, political influence in tech, and the long-term impact on Tesla and Musk’s empire.
