Public fallout, complete record of the horse racing battle.

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13 hours ago

The greatest novelists in the world couldn't write such a script.

Written by: Bao Yilong, Wall Street Journal

Trump and Musk stood together in the Oval Office last week, declaring their enduring friendship, but on Thursday night, they were live mocking and insulting each other. The initial sadness expressed by both quickly turned into mutual threats.

From Musk's public support for Trump in July 2024 to the breakdown of their relationship, it took less than a year for the two to completely fall out over a major bill.

According to CCTV, on June 5, Beijing time, U.S. President Trump and former head of the "Department of Government Efficiency" Musk began a public war of words. As the argument continued throughout Thursday's trading session, Tesla's stock plummeted, sending investors into a panic. By the close, Tesla's stock had dropped 14%, marking the largest decline since March. Tesla's market value evaporated by more than $150 billion.

The following are all in Beijing time:

June 5, 22:37

Musk retweeted a "report" about Trump's tariff bill. The headline read:

Congress warns that failure to pass the spending bill could delay national destruction.

June 5, 23:20

Musk retweeted a 2013 tweet from Trump criticizing the Republican Party for raising the debt ceiling, mocking:

That makes a lot of sense.

June 5, 23:46

Musk retweeted a tweet from Trump in 2012, which stated:

I completely agree, "If the U.S. budget is unbalanced, no member of Congress should be re-elected."

June 6, 00:00

While meeting with German Chancellor Friedrich Merz at the White House, Trump began to respond to Musk's criticisms. Trump stated:

Musk is angry because we revoked the electric vehicle mandate, you know, that's a huge amount for electric vehicles. They (Tesla) are struggling in the electric vehicle sector but want us to pay billions in subsidies.

He then said that Musk understands the inner workings of the tariff bill. He claimed that he had a good relationship with Musk—but that relationship might be over.

June 6, 00:19

Musk seemed to immediately respond to Trump's comments about the electric vehicle mandate:

Whatever. It's acceptable to keep the electric vehicle subsidy cuts in the bill, but the oil and gas subsidies are not affected (which is "very unfair!").

In the entire history of human civilization, bills are either big or beautiful, never both big and beautiful.

June 6, 00:25

Musk retweeted Trump's comment expressing disappointment in him, replying:

Dead wrong, this bill has never been shown to me, and it was passed quickly in the middle of the night!

June 6, 00:46

Musk replied to X user Autism Capital, stating that without him, Trump would lose, and the Democrats would control the House. He added: "What an ungrateful person."

Without me, Trump would lose the election, the Democrats would control the House, and the Republicans would have a 51 to 49 seat advantage in the Senate.

June 6, 01:46

Musk retweeted a post from an X user named Wall Street Mav:

The user expressed hope that this dispute would not damage the billionaire's relationship with Trump.

Musk then posted a video of Trump praising Tesla in front of the White House. Musk @Trump:

Remember this?

June 6, 02:10

Musk retweeted an interview from 2021, emphasizing that he had always canceled the tax credits for electric vehicles:

This is what I said in 2021: We don't need the $7,500 electric vehicle tax credit. To be honest, I would rather cancel the entire infrastructure bill. Don't pass it. That's my advice.

June 6, 02:37

Trump joined the debate on his "Truth Social" platform. He stated:

Musk has become "unbearable," I asked him to leave, I canceled his electric vehicle mandate, which forced everyone to buy electric vehicles that no one wanted (he knew I would do this months ago!), and he went crazy!

Trump then issued a huge threat to Musk's businesses. He said:

The easiest way to save money is to cut government contracts for Musk's companies. I have always been surprised that Biden hasn't done this.

June 6, 02:48

Musk responded to Trump's post:

This is clearly a lie. So sad.

He then retweeted a post suggesting that terminating government contracts would lead to the dissolution of the International Space Station, accompanied by a smiley face emoji.

Come on, make me happy.

June 6, 03:10

Musk then fought back, directly dropping a bombshell on social media, claiming:

Trump is implicated in the Epstein sex crime case, and that is the real reason the U.S. government has not released the Epstein files.

Remember to bookmark this tweet; the truth will come out in the future.

June 6, 04:09

Musk retweeted a tweet about cutting Musk's government contracts and issued a threat, stating that he would retire SpaceX's Dragon spacecraft, which transports cargo and personnel to the International Space Station.

In light of the President's statement about canceling my government contracts, @SpaceX will immediately begin dismantling its Dragon spacecraft.

June 6, 04:11

Musk retweeted a post about supporting Trump's impeachment, replying:

  • Yes

  • President vs. Elon. Who will win? My money is on Musk.

Trump should be impeached, and JD Vance should take his place.

June 6, 04:26

Musk retweeted a post stating:

Trump's tariffs will lead to an economic recession in the second half of this year.

June 6, 09:20

Netizens suggested that both should calm down and take a step back for a few days. Musk replied to the post, softening his tone:

Good suggestion. Okay, we won't retire the spacecraft.

June 6, 09:27

Previously, Bill Ackman, acting as a mediator, stated that everyone is working for the national interest and should coexist peacefully. Musk replied:

You are right.

Musk's Discontent Was Already Apparent

On May 27, just a few days before Musk left the "Department of Government Efficiency," he made his first comments on the tax reform bill during a program aired by CBS. At that time, Musk's assessment was merely that he "felt disappointed."

In response to Trump's description of the bill as "big and beautiful," Musk's comments were relatively restrained, stating:

I think a bill can be "big" and it can be "beautiful," but I don't know if it can be both.

On June 1, in an interview released by CBS, Musk further expressed his dissatisfaction with the U.S. government. He stated that he did not want to publicly oppose the U.S. government but also did not want to take responsibility for everything the government did. Musk claimed that the "Department of Government Efficiency" he led had become a "scapegoat" for everything.

On June 3, Musk posted on social media that the massive bill was "absurd" and "disgusting." He stated that the bill would significantly increase the budget deficit to $2.5 trillion, placing an unbearable debt burden on American citizens.

On June 4, Musk intensified his attack on Trump's tax cut bill, urging the American public to contact their legislators to "kill" the bill. Musk stated on social media that "bankrupting America is wrong."

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