Tesla Tumbles $150 Billion as Musk-Trump Feud Erupts Over EV Cuts and Power Play

Tesla shares plunged 14% Thursday—wiping out $150 billion in market value—after President Donald Trump and CEO Elon Musk clashed publicly over Trump’s tax bill. Musk criticized the bill on social media, prompting Trump to accuse him of being upset over cuts to EV subsidies. The feud triggered fears that Tesla’s federal contracts and regulatory approvals could be at risk. With Musk betting Tesla’s future on driverless robotaxis, scrutiny is intensifying. The sell-off also slashed Musk’s net worth by $27 billion, as Tesla faces major financial and political headwinds.