Patrick Boyle On Finance The Trump Musk Blowup!
Jun 7, 2025
A fiery feud brews between Donald Trump and Elon Musk, sparked by Musk's sharp criticism of a crucial budget proposal. Their once-strong alliance crumbles, affecting investor sentiment and Tesla's performance. Social media intensifies the drama, with political dynamics influenced by unexpected figures like Kanye West. The rivalry not only impacts their reputations but also ripples through the US space program and broader market trends, showcasing the unpredictable nature of political alliances in today's world.
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Musk-Trump Early Friendship
- Elon Musk publicly supported Donald Trump, attending events and even serving in a civil service role.
- Despite early signs of tension, their cooperative relationship was visible and noteworthy.
Crony Capitalism's Market Impact
- Tesla's stock rose dramatically despite poor sales due to investor optimism linked to Musk's political connections.
- This suggests crony capitalism influences stock prices beyond company performance.
Musk's White House Exit Story
- Musk's role as a special government employee ended after expressing disappointment with Trump's budget bill.
- At his White House farewell, Musk appeared with a black eye and received a symbolic gold key from Trump.