Overview

• President Trump refused Elon Musk’s request for a phone call, calling him “lost his mind” and focusing on advancing the Big Beautiful Bill through Congress.
• Musk threatened to decommission SpaceX’s Dragon spacecraft after Trump said he could cancel his companies’ federal contracts.
• Tesla shares plunged more than 14% during Thursday’s trading, erasing roughly $100 billion in market value before a modest recovery.
• The White House said Trump is considering selling or giving away the red Tesla Model S he received in March as a public rebuke.
• Democrats have used the feud in fundraising appeals and called for investigations into Musk’s unverified claim that Trump appears in the Epstein files.