Tesla’s shares declined by about 14.2% on Thursday, reducing the company’s market value by roughly $152 billion, as Elon Musk and Donald Trump publicly exchanged criticisms on social media.
Tesla’s stock price fell approximately 14.2% at Thursday’s close, lowering the company’s market value by around $152 billion amid a public exchange between Elon Musk and President Donald Trump. The two figures traded comments and criticisms on social media platforms over the course of the day.
Trump suggested the possibility of reducing government subsidies and contracts for Musk’s companies, including Tesla and SpaceX, both of which have received federal support. Musk responded by threatening to decommission SpaceX’s Dragon spacecraft used by NASA, criticized Trump’s tariff policies, and called for the president’s impeachment. Later in the evening, Musk indicated that SpaceX would not proceed with decommissioning the spacecraft.
The share price decline also led to an estimated $8.73 billion decrease in Musk’s net worth, with Tesla’s overall market valuation falling to near $900 billion. Tesla has faced challenges during the year, including sales declines and investor concerns linked to Musk’s political affiliations. Some investors who had bet against Tesla’s stock benefited financially during the price drop, according to reports.
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