ABC News Daily How Trump’s tariffs are costing Elon Musk
Apr 10, 2025
Join Wired reporter Vittoria Elliot as she dissects Elon Musk's tumultuous relationship with the Trump administration amid economic turmoil. Musk has faced a staggering $130 billion drop in net worth, largely due to Trump's tariffs impacting Tesla and SpaceX. Elliot explores the fallout from Musk's role as a government advisor and his advocacy for free trade. The podcast reveals tensions between tech giants and the political landscape, questioning whether Musk's entanglement in politics has hurt or helped his enterprises.
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Musk's Wealth Drop
- Elon Musk's net worth has decreased significantly, about 31%, due to market fluctuations.
- This drop is largely attributed to his wealth being tied to his companies like Tesla and SpaceX.
Musk-Navarro Clash
- Musk publicly criticized Trump's trade advisor, Peter Navarro, for his comments on Tesla's manufacturing.
- This public disagreement signals potential friction between Musk and the Trump administration.
Musk's Potential Exit
- There are indications that Musk might be preparing to leave his role in the US government.
- His supported candidate lost in the Wisconsin Supreme Court election, and Trump hinted at Musk's eventual return to his businesses.