Elon Musk‘s exit from President Donald Trump‘s White House has resulted in the two towering figures feuding online, with the richest man in the world’s net worth taking a significant hit due to the back-and-forth.
Finance pub Forbes reports that Musk’s net worth fell below $400 billion this Thursday, dropping from $414.7 billion to $388 billion, a difference of around $26.7 billion. More specifically, Musk’s Tesla stock declined 14%, or $47 per share, to $285 on what Forbes calls, “an otherwise flat day for the market.”
The drop in value came almost immediately after Musk and Pres. Trump began exchanging blows on social media Thursday (June 5), with Musk claiming that Trump would’ve never been elected for a second term if it were not for him (Musk spent nearly $300 million backing Trump and other Republicans in last year’s election) while Trump accused Musk of having “Trump Derangement Syndrome.” Musk also accused Trump of being listed on the Jefferey Epstein files, suggesting the current president has a direct connection to the late sex offender and financier.
Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. Musk, who served as an adviser to Trump and led the Department of Government Efficiency, announced he would leave his role in the Trump administration to refocus on his businesses. (Photo by Kevin Dietsch/Getty Images)
“Time to drop the really big bomb,” Musk wrote on X, which he owns. “[Trump] is in the Epstein files. That is the real reason they have not been made public.” He later followed up, “Mark this post for the future. The truth will come out.”
The rift seemingly began after Musk exited his role as one of Trump’s advisors and head of the Department of Government Efficiency (DOGE). Soon after, Elon called out Trump and Republicans for passing the One Big Beautiful Bill, which Musk deemed a “massive, outrageous, pork-filled Congressional spending bill” that is a “disgusting abomination.”
Trump fired back by suggesting he would terminate government contracts with Musk’s businesses, which include rocket company SpaceX and its satellite unit Starlink. This threat is possibly what led to Musk’s businesses dropping in value literally overnight.
The Hill reports that White House Press Secretary Karoline Leavitt called Thursday’s spat “an unfortunate episode from Elon, who is unhappy with the One Big Beautiful Bill because it does not include the policies he wanted. The President is focused on passing this historic piece of legislation and making our country great again.”
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