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The feud of Elon and Donald J Trump the President of the United States, has caused Musk a net worth dropped by $34 billion on Thursday,  June 5. This is recorded as one of the worst single-day wipeouts of wealth, according to the Bloomberg Billionaires Index.
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‎The beef between the two egocentric billionaires and great friends during the US 2024 election entered a different level when Elon on its X handle tweeted that  Trump had ties to Jeffrey Epstein and suggesting that he played an important role in helping Trump win the 2024 election. Saying that Trump would have lost without his help.
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‎On Truth Social, Trump responded and threatened to cut federal contracts with Musk’s companies and take away his EV (electrical vehicle) mandate which was introduced as a tax credit under former President Joe Biden’s administration under the 2022 Inflation Reduction Act offering up to $7,500 off electric car purchases, which benefited Tesla ranking  on the U.S. market.
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‎In response to the threat, Musk said he'd immediately decommission SpaceX's Dragon spacecraft so as to accommodate the threat of the President.
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‎White House press secretary Karoline Leavitt said in response to BI's inquiry regarding Musk's Epstein post. "The President is focused on passing this historic piece of legislation and making our country great again. The legislation is the One Big Beautiful Bill that is the cause of the sore relationship between Elon and Donald, because it does not include the policies Elon wanted.
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‎As a result of this beef, Tesla shares plummeted more than 14%, representing about a $138 billion wipeout of the company's total market cap.
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‎Previous Elon musk tweet resurfaced In November 2021, Musk put up a poll on Twitter, asking his followers if he should sell 10% of his Tesla stock. More than 57% of 3.5 million responders said, "Yes."