Tesla Inc. shares tumbled over 14% on Thursday after a social media clash erupted between U.S. President Donald Trump and Tesla CEO Elon Musk.
Tensions between the two, which many insiders had long predicted would eventually boil over, reached a breaking point following the passage of the controversial congressional spending bill on May 22, 2025.
Nicknamed the “One Big Beautiful Bill,” the legislation makes tax cuts permanent, raises military spending, and adds a 3.5% tax on cross-border transfers.
