US President Donald Trump and billionaire Elon Musk exchanged barbs on Thursday over a contentious government budget plan which then caused a sharp plunge in Tesla Inc. stock.
"Look, Elon and I had a great relationship. I don't know if we will anymore. I was surprised," Trump told reporters at the White House.
He was asked for a reaction to Musk's criticism over the 'Big Beautiful Bill' that has been passed by the US House of Representatives and now heads to the US Senate.
“He said the most beautiful things about me, and he hasn't said bad about me personally, but I'm sure that'll be next," Trump said.
The leader further said he is "very disappointed with Elon" whom he has "helped a lot". The duo's political alliance began last year when Musk endorsed Trump for the 2024 presidential election and campaigned aggressively for the Republican candidate. Trump later appointed Musk to lead the Department of Government Efficiency or DOGE to implement reforms.
"He knew the inner workings of the bill better than anybody sitting here. He had no problem with it. All of a sudden he had a problem and he only developed the problem when he found out we're going to cut EV mandate," Trump said.
Musk soon responded through a post on social media platform X saying: "False, this bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it!"
The Tesla CEO also reshared a 2013 post of Trump that criticised Republicans for extending the US debt ceiling with the caption 'Wise words'. He even pinned the post on his profile.
False, this bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it! https://t.co/V4ztekqd4g
June 5, 2025Tesla Stock Down
The Tesla stock became a casualty in the fire as it plunged over 8% during New York trading hours.
Notably, since Jan. 20 when Trump entered office for a second term, the stock has gained 56% till a day ago.
Last month, Musk quit DOGE and said he would scale back his political activities to focus on his businesses that range from Tesla to SpaceX and Neuralink.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
