On Wednesday, Tesla and SpaceX CEO Elon Musk admitted to regretting some of his tweets from last week targeting President Donald Trump. Musk acknowledged that “some of the posts went too far,” indicating a potential turning point in their relationship.
During their dispute, Musk referred to the tax and spending legislation spearheaded by Trump as a “vomit-inducing monster.” He also voiced support for the impeachment of the President and made comments about Trump’s association with Epstein’s list, both of which were later deleted. Sources informed Reuters that Musk’s emotions are gradually calming down, possibly indicating a desire to mend ties with the White House.
Musk had been a strong supporter of Trump’s reelection campaign during the election. After Trump took office, Musk oversaw the Government Efficiency Department, responsible for streamlining the public sector and reducing budgets. However, he resigned from his position at the end of last month, criticizing Trump’s “big and beautiful” legislation as excessive spending that could jeopardize his reform efforts within the government.
Trump emphasized that the legislation would save $1.7 trillion in mandatory spending over the next decade, serving as a core component of his fiscal strategy for the second term. He believed that Musk’s anger stemmed from the legislation’s potential reduction of tax incentives for electric vehicles, a claim Musk denied.
The relationship between the two took a nosedive last week, with Trump stating on Saturday to NBC that he had no intention of repairing his relationship with Musk and warning of “severe consequences” if Musk financially supported Democratic candidates.
However, Trump’s attitude appeared slightly softened this week. On Monday, he stated publicly, “We had a good relationship; I wish him well.” Musk responded with a heart symbol to the video post.
Following the news, Tesla’s stock rose 2.3% in pre-market trading, recouping some of the $150 billion market value loss incurred during last week’s verbal sparring.
According to Reuters, Tesla shareholders and market observers generally perceive attempts from both sides to de-escalate. An analyst pointed out that “if these two heavyweights continue to clash, it is detrimental to either party.”
Shawn Campbell, an advisor at Camelthorn Investment Company, stated that the stakes involved in the feud between the two are enormous, with Musk being the world’s richest person and Trump being the most powerful national leader globally. The power play between them has far-reaching implications, involving billions of dollars in contracts and government regulatory powers.
In the remaining posts, Musk still refers to Trump’s election as “remarkable.”
Trump has not explicitly stated whether he will resume cooperation with Musk, but he mentioned that he does not plan to cancel the White House Starlink service provided by SpaceX. Previously, he had warned of terminating government contracts with Musk’s companies.
(This article referenced reporting from the Associated Press)