Tesla Inc's Chief Executive Elon Musk on Wednesday admitted overstepping while defending criticism of Trump's policy.
“Regret some of my posts about President @realDonaldTrump last week. They went too far.,” Musk said in a post on X.
I regret some of my posts about President @realDonaldTrump last week. They went too far.
The statement came after the world's richest man, last week, criticised Trump administration's tax policy and linked Trump with Jeffrey Epstein.
Musk had also taken credit for helping Trump win the 2024 election and had joined the administration in a new federal role.
The attacks followed a sharp decline in market capitalisation, which fell by $153 billion on Thursday. Musk's net worth dropped by $34 billion, prompting him to withdraw threats to pause SpaceX operations and reduce his criticism of Trump. Tesla's stock recovered only 4% the following morning, regaining a small part of the losses.
Musk's break with Trump began with opposition to the “One Big Beautiful Bill Act,” which he called a mistake. He also shared a now-deleted post linking Trump to Epstein Island. The tension intensified when Musk endorsed Trump's impeachment and claimed influence over Trump's election victory.
The public fallout raised concerns within the Trump administration, where Musk had been involved in shaping government reforms through the Department of Government Efficiency, which he pushed Trump to create. His comments put pressure on officials he supported for senior roles.
Trump responded mildly, saying, “I just wish him well.” Musk reacted with a red heart emoji on X under the president's video.
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