Jun 5, 2025 - Business
Trump and Musk lose billions as feud spooks investors
Add Axios as your preferred source to
see more of our stories on Google.
The slow-motion train wreck end of President Trump's relationship with Elon Musk on Thursday cost both men significant sums of money.
Why it matters: Both have vast business empires, but they each have one public company, and investors dumped both as their social media war spiraled into personal attacks.
By the numbers: Tesla shares dropped 14.3%, costing Musk just under $20 billion.
- The 8% decline in Trump Media & Technology Group cost the president about $202 million.
- The bigger hit to Trump's bottom line was the roughly 10% decline of his Official Trump meme coin, potentially costing him nearly $900 million.
The bottom line: Both men got to vent their frustrations publicly, and it only cost them about $21 billion.
