Overview

• Musk called the “One Big Beautiful Bill” a “disgusting abomination” that could add $2.4 trillion to the national debt, prompting his break with the administration.
• On Truth Social, Trump argued that “the easiest way to save money” was to terminate Musk’s government contracts, highlighting roughly $38 billion in federal subsidies.
• Musk fired back on X by alleging Trump appears in unreleased Jeffrey Epstein files and endorsed a call to impeach him in favor of JD Vance.
• In response to Trump’s contract threat, Musk announced SpaceX would begin decommissioning its Dragon spacecraft, risking disruption to International Space Station operations.
• Tesla’s stock plunged more than 14 percent in a single session, erasing about $150 billion from its market capitalization amid the public row.