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Elon Musk’s feud with Trump spurs one of his worst wealth losses ever

Economic Times

Economic Times · 2m ago

Elon Musk’s feud with Trump spurs one of his worst wealth losses ever

Elon Musk's online feud with President Donald Trump resulted in a $34 billion loss from his net worth, marking the second-largest loss in Bloomberg Billionaires Index history. The conflict stemmed from Musk's opposition to Trump's signature bill, jeopardizing Musk's companies like Tesla and SpaceX, which rely on government contracts. Despite setbacks, Musk remains the world's richest person. The feud raises concerns for Tesla's future and Musk's other ventures amid potential political and financial repercussions.

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Elon Musk’s wealth soars $34 billion as Tesla comes roaring back

Economic Times

Economic Times · 10m ago

Elon Musk’s wealth soars $34 billion as Tesla comes roaring back

Elon Musk's net worth surged by $33.5 billion as Tesla's shares had their biggest gain in over a decade. This solidified Musk's position as the world's richest person, with a wealth of $270.3 billion. The boost came after Tesla reported its highest quarterly profit since 2023 and Musk predicted strong vehicle sales growth. Tesla's success is crucial for Musk's wealth, as the company's shares and options make up about three-quarters of his fortune. Musk also made headlines for his support of Donald Trump and his advocacy for autonomous vehicles. He believes that Tesla will become the most valuable company in the world.

‘I regret some of my posts about Trump’: Musk walks back attacks after explosive Epstein claims

Economic Times

Economic Times · 2m ago

‘I regret some of my posts about Trump’: Musk walks back attacks after explosive Epstein claims

Elon Musk reignited tensions with President Trump by criticizing his spending bill as a "disgusting abomination," leading to a fierce exchange. Trump retaliated with warnings of "serious consequences." Musk further escalated by linking Trump to Epstein files in explosive posts, which were later deleted, before retracting his statements. Trump denied all allegations, dismissing them as "old news." This ongoing feud continues to impact political and tech sectors significantly.

Trump ‘frustrated’ with Elon Musk but ‘doesn't want a long-term feud’, says JD Vance

Economic Times

Economic Times · 2m ago

Trump ‘frustrated’ with Elon Musk but ‘doesn't want a long-term feud’, says JD Vance

Former President Donald Trump is reportedly frustrated with Elon Musk but does not wish to escalate it into a long-term feud, according to Vice President JD Vance. He mentioned discussions with both Musk and Trump to ensure Musk's support for Trump's administration. Despite the frustration, Trump values Musk's contributions towards improving governmental efficiency early in his presidency. Trump seems keen on maintaining a harmonious relationship with the influential entrepreneur and significant campaign donor.

Elon Musk’s net worth rises after Trump truce

Economic Times

Economic Times · 2m ago

Elon Musk’s net worth rises after Trump truce

Elon Musk's net worth increased by $191 million to $411.4 billion after he expressed regret over harsh comments about former President Donald Trump. Musk publicly apologized for these remarks, admitting they went "too far," which reportedly followed a phone call with Trump. The White House acknowledged Musk's apology, and Trump appreciated the gesture. The tension originated from Musk's criticism of a Trump economic bill and his resignation from the Department of Government Efficiency.

Elon Musk’s timeline at DOGE: From ambitious reforms to abrupt exit

Economic Times

Economic Times · 3m ago

Elon Musk’s timeline at DOGE: From ambitious reforms to abrupt exit

Elon Musk concluded his brief role at the Department of Government Efficiency (DOGE) after being appointed by President Trump to streamline federal operations. During his tenure, DOGE initiated cost-cutting measures, including auditing credit cards and canceling leases, but faced criticism and legal scrutiny. Musk's involvement drew media attention, ethical questions, and protests, while raising concerns about conflicts of interest with his businesses. Despite calls for his resignation, Musk thanked Trump and exited amid ongoing governmental challenges.

Elon Musk’s ‘first buddy’ role: Tesla CEO joins Trump, Google’s Sundar Pichai on call, strengthens political ties

Livemint

Livemint · 9m ago

Elon Musk’s ‘first buddy’ role: Tesla CEO joins Trump, Google’s Sundar Pichai on call, strengthens political ties

Tesla and SpaceX CEO Elon Musk reportedly joined a private call between US President-elect Donald Trump and Google CEO Sundar Pichai. The call was made to congratulate Trump on his election win. Musk's involvement comes amid speculation about his ties with the Trump administration, as he has been seen at Trump's Florida residence and has made financial contributions to a pro-Trump political group. Musk's close relationship with the administration could benefit his companies, which rely on government regulation and subsidies. His influence also extends to interactions with world leaders, solidifying his role as a political power broker.

Tesla Shares Rebound Slightly After $150 Billion Rout as Musk-Trump Rift Seems to Ease

OutlookIndia

OutlookIndia · 2m ago

Tesla Shares Rebound Slightly After $150 Billion Rout as Musk-Trump Rift Seems to Ease

Tesla shares rebounded slightly after losing $150 billion in market value due to a public feud between CEO Elon Musk and former US President Donald Trump. The conflict arose when Musk criticized Trump’s “One Big Beautiful Bill,” claiming it would increase the US deficit. Despite tensions, Tesla shares rose by about 5% amid rumors of potential communication between Musk and Trump. Wall Street indices remained strong, with the Dow Jones and Nasdaq both seeing gains.

Richest man in the world now $7 billion richer. Windfall from US election rockets Elon Musk’s worth to $334.3 billion | Company Business News

Livemint

Livemint · 9m ago

Richest man in the world now $7 billion richer. Windfall from US election rockets Elon Musk’s worth to $334.3 billion | Company Business News

Tesla CEO Elon Musk has increased his wealth by $80 billion, making him the richest person in the world, surpassing Oracle chairman Larry Ellison, according to Forbes. With a net worth of $334.3 billion, Musk's fortune is primarily derived from his stakes in Tesla and SpaceX, amounting to 13% and 42% respectively. He also has investments in other companies such as Neuralink, The Boring Company, and xAI. Musk's support for President-elect Donald Trump and the subsequent market response following the US election results further contributed to his financial success. Additionally, Musk's AI company, xAI, is now valued at $50 billion.

Trump brags he leaked Elon Musk drug story to NYT

Economic Times

Economic Times · 1m ago

Trump brags he leaked Elon Musk drug story to NYT

Donald Trump claimed to friends that he orchestrated a New York Times story on Elon Musk's alleged drug use, igniting a personal feud between the two. This feud escalated over Trump's proposed spending bill, which Musk opposes. Trump suggested he had insider knowledge about Musk’s drug use, while Musk denied the claims. The tensions have become serious, with Musk contemplating the formation of a new political party to challenge Trump's spending agenda.

Let's be friends, we were both wrong: Sam Altman to Elon Musk

Inshorts · 3m ago

Let's be friends, we were both wrong: Sam Altman to Elon Musk

OpenAI CEO Sam Altman asked billionaire Elon Musk to be his friend and said, "See you next week...AGI [is] too important to let a little feud get in the way." This comes amid a conflict between the two over their past criticisms of US President Donald Trump. "We were both wrong, or at least I certainly was," said Altman.

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