Elon Musk, the world’s most influential tech mogul, just faced one of the biggest financial setbacks in history a jaw-dropping $29 billion wiped from his net worth in a single day. The massive loss came as Tesla’s stock plummeted following weaker-than-expected earnings, growing concerns about the electric vehicle (EV) market, and global economic uncertainty.
As the news sent shockwaves through Wall Street and Silicon Valley, former President Donald Trump didn’t hesitate to weigh in, offering a signature mix of criticism, sarcasm, and economic analysis on Musk’s misfortune. His response? A sharp-tongued warning that Musk’s financial struggles might be a **consequence of losing focus on business while engaging in politics anconsequence of losing focus on business while engaging in politics and social media controversies.
Trump’s Reaction: A Warning or a Dig?
Taking to Truth Social, Trump posted a direct message addressing Musk’s financial woes:
“Elon should have stayed focused on cars instead of playing politics! Tesla is tanking maybe it’s time he stops worrying about woke nonsense and starts running his business properly?”
The statement was classic Trump blunt, provocative, and dripping with criticism. While it’s unclear whether Trump was genuinely concerned about Tesla’s future or simply taking a jab at Musk, his remarks reignited speculation about the love-hate relationship between the two billionaires.
What’s Behind Musk’s $29 Billion Loss?
Although Trump blames Musk’s involvement in free speech debates and political distractions, financial analysts say Tesla’s stock decline is linked to three major factors:
Tesla’s Stock Crash: Tesla shares fell over 12% in a single trading session, the steepest drop in over a year. Investor confidence has been shaken as concerns grow about slowing EV demand, especially in **key marketskey markets like China and the U.S..
Shrinking Profit Margins: Musk’s aggressive price cuts on Tesla vehicles, meant to stay competitive in an increasingly crowded EV market, have eroded profits and left investors uneasy about long-term sustainability.
Economic & Market Uncertainty: With rising interest rates, high inflation, and a looming economic slowdown, the entire tech sector is feeling the heat, and Tesla isn’t immune to these macroeconomic pressures.
Musk’s fortunes are deeply tied to Tesla, meaning when the stock drops, so does his wealth. And while he remains one of the richest individuals on the planet, this massive hit serves as a reminder that even billionaires aren’t untouchable when it comes to market volatility.
Musk vs. Trump: A Complicated Relationship
While the two men share some ideological similarities, their relationship has been anything but stable over the years.
2022: Trump publicly mocked Musk, calling him "another bullst artist"** after Musk claimed he had never voted Republican before.
2023: Musk hinted that he preferred Trump over Biden in the 2024 election but stopped short of an endorsement.
2024: With Trump’s presidential campaign heating up, Muskstrategically distant, despite being critical of Biden’s economic policies.
Trump’s latest comment about Musk’s financial troubles could widen the rift between them, especially if Musk decides to fire back on social media. Given his history of quick and unfiltered Twitter (X) responses, it wouldn’t be surprising if he clapped back with his own take on Trump’s past business failures.
Will Musk Bounce Back?
Elon Musk is no stranger to financial turbulence. He has lost tens of billions before and always found a way to recover. His track record suggestsshort-term struggles are real, Musk’s ability to innovate and disrupt industries could help him regain momentum.
But the big questions remain:
One thing is certain—the Musk-Trump saga is far from over, and the world will be watching closely.