Trump Is Bleeding Hundreds of Millions Thanks to Musk’s War
The MAGA bromance is over—and the financial fallout is staggering.
Kevin Dietsch/Getty Images
The explosion of Donald Trump’s once-cozy friendship with Elon Musk is hitting them hard where it hurts most—in the pocketbook.
As reported Thursday, Musk’s personal fortune was cut by $26.6 billion after Tesla shares slumped by more than 14 percent, wiping a mind-boggling $150 billion off the EV giant’s market value.
But Trump isn’t escaping unscathed. According to Axios, Trump Media & Technology Group stock declined 8 percent, while his MAGA-fueled $TRUMP cryptocurrency tumbled 12 percent—bleeding him of more than a billion dollars.
The website reported that the 8 percent dip in Trump Media & Technology Group cost the president around $202 million.
Trump Media's share price showed a sharp fall during the war between Donald Trump and Elon Musk
DailyBeast/Google
But he may be more concerned by the roughly 10 percent decline in the value of of his Official Trump meme coin, potentially costing him nearly $900 million.
TrumpCoin also showed a huge loss during the row between Donald Trump and Elon Musk
Daily Beast/CoinGecko
As Axios noted: ‘Both men got to vent their frustrations publicly, and it only cost them about $21 billion.’
The dramatic split was triggered when Musk, having departed his DOGE post on May 30, torched Trump’s so-called “One Big Beautiful Bill”—a sprawling tax-and-spending package—as a “disgusting abomination.”
Since departing his DOGE post on May 30, Musk has spent the last week firing off insults toward his former White House colleagues on X.
Kevin Dietsch/Getty Images
Musk, who had personally poured nearly $300 million into Republican campaigns in 2024, tweeted: “Without me, Trump would have lost.”
Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate.
— Elon Musk (@elonmusk) June 5, 2025
After an uncharacteristic delay, Trump hit back—threatening to strip federal contracts from Musk’s companies, which would kill electric vehicle tax credits and cost Tesla $1.2 billion this year, according to JPMorgan analysts.
Musk then pressed the nuclear button by alleging Trump’s name appears in sealed legal files on the late pedophile financier Jeffrey Epstein.
He also called for Trump’s impeachment, responding “yes” to a user on X who wrote: “Trump should be impeached and JD Vance should replace him.”
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However, a truce may be on the horizon, as Trump and Musk are expected to speak in person on Friday, according to Politico’s White House Bureau Chief Dasha Burns.
🚨BREAKING: I spoke with Trump briefly tonight
— Dasha Burns (@DashaBurns) June 6, 2025
A truce may be the works…
A conversation between WH team and Musk is expected TOMORROW.
And this afternoon senior admin officials advised Trump to temper his response and keep focus on his megabill. https://t.co/oN4Bfd7bTt pic.twitter.com/G5tBv2S3vu
Perhaps, as the old adage goes, money really does talk.
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