Overview

• Musk and Trump have traded insults on social media, with Musk calling Trump’s budget “a disgusting abomination” and Trump labeling Musk “crazy” and “lost his mind.”
• The White House confirmed Trump won’t speak with Musk and said the president is considering selling or giving away his cherry-red Tesla Model S.
• Tesla shares tumbled more than 14% in a single trading session, wiping roughly $150 billion off the company’s market value as investor concerns mounted.
• Trump threatened to cancel multi-billion-dollar government contracts with Musk’s firms, including SpaceX and Starlink, in response to the criticism.
• Analysts warn the feud could jeopardize US national security and delay space exploration projects that rely on Musk’s launch and satellite services.