Overview

• Elon Musk reshared President Trump’s Truth Social posts on his platform X, rebuking Governor Gavin Newsom and Mayor Karen Bass over the Los Angeles riots
• The retweet follows Musk’s earlier deletion of incendiary claims linking Trump to the Jeffrey Epstein files and his criticism of the ‘Big Beautiful Bill’
• Trump has declared his relationship with Musk irreparable and warned of very serious consequences if Musk funds Democratic campaigns
• Tesla’s shares plunged more than 14 percent last week as the public spat escalated and Trump threatened to cut government contracts and subsidies
• Figures including JD Vance and Musk’s father, Errol, attributed the clash to mounting stress and urged a reconciliation