Washington DC. U.S.- In what could be described as the political equivalent of a tech world breakup tweet, former US President Donald Trump declared Friday that Elon Musk had “lost his mind.”
But in typical Trump fashion, he then insisted he was ready to move on from the public fallout with his once-favorite billionaire ally.
Their high-stakes split—part drama, part power play—is now sending ripples through both Washington and Wall Street, complete with economic landmines, bruised egos, and a possible Tesla giveaway.
Speaking to reporters aboard Air Force One on his way to his New Jersey golf club, Trump sounded almost zen—at least, by his standards.
“Honestly I’ve been so busy working on China, working on Russia, working on Iran… I’m not thinking about Elon Musk,” he said, adding with a shrug, “I just wish him well.”
That statement didn’t last long.
Hours earlier, Trump had taken a jab at Musk during an ABC call-in, sarcastically asking if they meant “the man who has lost his mind?” The 78-year-old Republican later doubled down on Fox News, declaring Musk had “lost it.” Not exactly “peace and love” energy.
It was a sharp reversal from just a week ago when Trump warmly praised Musk after he wrapped up a four-month stint at the Department of Government Efficiency—an office whose acronym, DOGE, was as pointed as it was meme-ready.
The fallout was set in motion after Musk torched Trump’s much-hyped “big, beautiful” spending bill, labeling it an “abomination.” That critique reportedly infuriated Trump, who returned fire with an Oval Office tirade. “Very disappointed,” he muttered in frustration, clearly nursing the sting of betrayal.
The spending bill, which Trump is trying to push through Congress, is already under scrutiny for ballooning the deficit and slashing healthcare programs for low-income Americans. Now, with Musk opposing it—and accusing Trump of being linked to the Epstein files without offering proof—the clash has turned nuclear.
Meanwhile, Musk appeared to dial down the heat. He backed off threats to shut down his Dragon spacecraft program, which NASA relies on for trips to the International Space Station. On social media, the usually unfiltered X (formerly Twitter) owner kept an uncharacteristic low profile Friday, skipping his typical daily barrage of posts.
Still, reconciliation seems unlikely. While Musk allegedly asked to speak with Trump, White House officials confirmed the president had no plans to return the call.
And if things weren’t messy enough, there’s now talk of Trump selling—or even giving away—his cherry red Tesla S, a car he proudly purchased from Musk in March at the peak of their bromance. The electric vehicle, still parked on White House grounds, was the centerpiece of a strange pop-up Tesla showroom that Trump staged to troll critics of Musk’s DOGE post.
Tesla, meanwhile, felt the fallout fast. Stocks plunged more than 14 percent Thursday, shaving about $100 billion off the company’s value. Though shares rebounded slightly on Friday, the damage was done.
Yet Musk isn’t exactly powerless in this feud. With nearly $300 million pumped into Trump’s 2024 campaign, the Tesla and SpaceX CEO has been the single largest donor—leverage he could easily redirect elsewhere come the 2026 midterms.
So, is this the final chapter of Trump and Musk’s bromance gone bust? With these two, it’s hard to tell. But one thing’s for sure: the breakup may be personal, but the consequences are very, very public.
