In an unprecedented escalation, a public dispute broke out between U.S. President Donald Trump and Tesla and SpaceX CEO Elon Musk, after Musk stated that Trump “would have lost” the election if it weren’t for his financial and media support.

These statements came following Musk's criticisms of the “One Big Beautiful Bill” legislation supported by Trump, which includes significant tax cuts and increases in defense spending, while eliminating tax exemptions for electric vehicles, negatively impacting Musk's companies.

In response, Trump threatened to cancel federal contracts awarded to Musk's companies, including contracts worth $3.8 billion for SpaceX and $2 billion for Tesla.

The dispute intensified when Musk accused Trump of being involved in issues related to Jeffrey Epstein, and called for his impeachment.

This conflict led to a sharp decline in Tesla's shares by 14%, resulting in an estimated loss of $152 billion in market value.

It is worth noting that Musk was one of Trump’s prominent supporters in the 2024 election campaign, having donated over $250 million, and held an advisory position in the government.

This dispute may negatively impact the political and economic relations between the two parties, and could have repercussions on the future of technology and energy policies in the United States.