Musk Feud With Trump Triggers Tesla Stock Crash

Elon Musk's public feud with former President Donald Trump over a Republican-backed bill to remove electric vehicle subsidies has triggered a dramatic drop in Tesla's stock price, resulting in one of the largest one-day losses ever recorded on the Bloomberg Billionaires Index. Musk's net worth fell by tens of billions of dollars after Tesla shares plunged as much as 18%, erasing up to $180 billion in market value. The dispute has damaged Musk's standing among House Republicans, with many now openly criticizing his political interventions and questioning his influence within the party. Investors and analysts warn that Musk's ongoing political battles are harming Tesla's business, and some shareholders have urged him to focus on company operations. Despite his significant political donations, Musk's opposition to the bill appears to have little sway in Congress. The episode underscores the risks for business leaders who become deeply involved in partisan politics.