Original | Odaily (@OdailyChina）
Author | Wenser (@wenser 2010）
On June 6, on the second day of a public verbal battle, Trump and Musk separately released "reconciliation signals" - the former said communication with Musk was progressing smoothly and a call had been arranged; the latter made a positive response under Bill Ackman's tweet that they would "benefit together or suffer together".
Just when everyone thought the "Trump-Musk duo" could repair their relationship through dialogue, the situation took another turn. On June 8, Beijing time, Trump stated that if Musk funds Democratic candidates opposing the Republican budget bill, he would face "very serious consequences" and "pay a price". Additionally, he added that he no longer wishes to repair their relationship, saying, "I think this relationship is over".
One is a powerful US president, the other a billionaire global business leader. Given their sensitive and important identities, their relationship not only affects the crypto market but also impacts the global economic landscape. Odaily will briefly review the recent developments of the "Trump-Musk conflict" for readers' reference.
Background of Trump-Musk Conflict: Gathering and Fighting Due to Interests
For details about the public falling out between Trump and Musk, please refer to our previously published article 'Musk and Trump's On-and-Off Relationship is Driving Financial Markets Crazy'.
In summary, the focus of their dispute is that Trump's 'Big Beautiful Bill' will affect Tesla's "carbon emission profits", which is undoubtedly unacceptable for Tesla, which has profited significantly from government subsidies and carbon credits.
Moreover, Trump had previously vetoed Musk's ally Jared Isaacman as NASA director, rejected the Starlink solution, and refused to extend his "special employee" status, which can be described as a "American version of killing the rabbit and cooking the dog".
The Most Expensive "Breakup": Tesla's Market Value Shrank by Over $150 Billion in a Single Day
Previously, due to their public confrontation and verbal attacks, Tesla dropped over 14% in a single day, with market value shrinking by $153 billion, creating the largest single-day drop in history. Musk, who owns about 12.8% of Tesla's stock, saw his net worth temporarily decrease by over $19.5 billion.
For Musk, who spent $44 billion to acquire Twitter and nearly $300 million supporting Trump's campaign, this conflict with Trump is a significant blow, even for someone as wealthy as him.
Musk vs Trump Net Worth Comparison: World's Richest vs Ranked 677th
Despite this, thanks to previous wealth accumulation, according to Forbes' real-time billionaires list, Musk currently ranks first with a net worth of $393.8 billion, far surpassing the second-place Mark Zuckerberg ($240.8 billion), third-place Jeff Bezos ($228.1 billion), fourth-place Larry Ellison, and even Warren Buffett (worth $154 billion).
In contrast, Trump, despite his massive political power, has a personal wealth of only $5.5 billion, ranking 677th on the Forbes list, which is significantly less impressive compared to Musk. However, the US president's status puts Trump in a more advantageous position in their conflict, as political power always has a more direct influence than economic wealth.
The article continues to discuss various reactions from political figures, Musk's father, and others to their ongoing conflict.
Russian Former President Medvedev "Jokes": Ready to Help Mediate and Accept Starlink Shares as Payment
Dmitry Medvedev, Vice Chairman of the Russian Security Council, stated on social media: "We are ready to help mediate between D (Donald Trump) and E (Elon Musk) and accept Starlink shares as payment at a reasonable cost. Don't argue, guys." In response to this playful mockery, Musk replied with a "😂" emoji.
Perhaps in Musk's view, although Trump previously claimed to have a good relationship with Putin, it's obvious that Medvedev, as a "Putin's lackey," lacks the qualifications to mediate his conflict with Trump, let alone the far-fetched idea of accepting Starlink shares as payment.
Musk's possible inner monologue: Who are you to interfere?
Latest Development: Musk and Trump Become Allies Again, Targeting California Unrest
The latest development in the "Trump-Musk saga" is that Musk and Trump have once again become allies, this time jointly focusing on the recent unrest in California, especially Los Angeles.
After the large-scale riots in Los Angeles, California, Trump immediately spoke out on the Truth Social platform, followed by Vice President Vance retweeting the statement on X, saying: "This moment requires decisive leadership. The President will not tolerate riots and violence."
Musk quickly followed up and retweeted, adding the "🇺🇸🇺🇸" flags.
Musk's retweet of Vance, seemingly showing goodwill
Subsequently, Musk posted a screenshot on X, retweeting Trump's criticism of the California governor and mayor. The latter stated, "Governor Gavin Newsom and Mayor Bass should apologize to the people of Los Angeles for their terrible performance, including the ongoing riots in Los Angeles. These are not protesters, but troublemakers and rebels. Remember, don't wear masks."
In his latest tweet, Musk retweeted a meme video created by an X platform user, sarcastically suggesting that California Governor Gavin Newsom might consider using the current riot footage as campaign material for the 2028 election.
Previously, Singapore's Lianhe Zaobao reported that after falling out with Trump, Musk became a target of Democratic Party outreach. According to American Flag News, Democratic Congressman Conner, who has known Musk for over 10 years, discussed with Musk's confidants on the 5th whether Musk would be willing to help the Democratic Party in the midterm elections next year. There were also rumors that Musk might support Democratic lawmakers and candidates in the 2026 midterm elections.
In the ongoing "Trump-Musk dispute," Musk's actions may be a side response to these unfounded rumors and a hint to Trump: I won't defect to the Democratic Party.
As for when they will reconcile, it may still depend on the dust settling on the "Big and Beautiful Act" and whether the specific provisions are as damaging as Musk envisioned.
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