The ongoing online feud between former U.S. President Donald Trump and billionaire Elon Musk has taken a sharp turn, leading to a significant financial setback for Musk, whose net worth reportedly dropped by nearly $34 billion.
The dispute ignited after Musk claimed credit for influencing the outcome of the 2024 U.S. presidential election. In a bold tweet, Musk said, “Without me, Trump would have lost the election. Dems would have control of the House and Republicans would be 51 to 49 in the Senate.”
Trump quickly fired back, warning that he could cut off federal contracts awarded to Musk’s companies. He also declared plans to scrap the electric vehicle (EV) mandate, originally introduced under President Biden as a tax incentive. “I asked him to leave. I took away his EV mandate that forced everyone to buy electric cars that nobody else wanted,” Trump asserted.
Additionally, Trump hinted that pulling the plug on Musk’s government subsidies and federal deals could help reduce national spending.
According to Bloomberg, the backlash has already taken a toll on Musk’s fortune, with his net worth plunging by $33.9 billion in just one day—one of the most dramatic declines in personal wealth on record.
