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Amidst Elon Musk and Donald Trump’s ongoing rift, the Tesla CEO’s net worth seems to have been affected. According to a Bloomberg report from June 6, 2025, Musk’s net worth declined by $34 billion.
According to Celebrity Net Worth, Elon Musk’s updated net worth as of June 2, 2025, is $380 billion. He has an equity stake of 13% in Tesla. Moreover, he has 43% control of SpaceX, which was valued at $180 billion. In October 2022, he acquired Twitter for $44 billion and renamed it X.
The Guardian reports that following the rift between Musk and Trump, the former’s Tesla shares dropped by 14.2% on June 5, 2025, which is almost equal to $152 billion.
The feud between the two leaders began after Elon Musk claimed that Trump had something to do with Jeffrey Epstein. Further, he went on to argue that he helped Trump win the 2024 Presidential elections.
Donald Trump also responded to his statements. He threatened to dissociate federal ties with Musk and his company. He took to his Truth Social handle and wrote:
“The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts. I was always surprised that Biden didn’t do it!”
In another post, Donald Trump claimed:
“I don’t mind Elon turning against me, but he should have done so months ago. This is one of the Greatest Bills ever presented to Congress. It’s a Record Cut in Expenses, $1.6 Trillion Dollars, and the Biggest Tax Cut ever given. If this Bill doesn’t pass, there will be a 68% Tax Increase, and things far worse than that.”
What did Elon Musk say about political spending?
In May 2025, Elon Musk exited from his role as the Special Government Employee. Sharing an X post on May 29, 2025, he thanked President Trump for his support. Previously, speaking to CBS Sunday Morning, Musk criticised the domestic policy bill. He said:
“I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing.”
Elon Musk shared his view that a bill could either be large or well-crafted, but not both. When asked about Musk’s remarks, Trump said that while there were parts of the bill he didn’t like, he was pleased with other parts.
He added that Republicans needed to get it passed in the House and that there would be further discussions on the bill. While conversing with Bloomberg, Musk said he desired to scale down political spending. He said:
“I think in terms of political spending I’m going to do a lot less in the future. I think I’ve done enough.”
He added:
“Well, if I see a reason to do political spending in the future, I’ll do it. I don’t currently see a reason.”
Meanwhile, Trump claimed on Truth Social that Elon Musk became too much to deal with, so he asked him to leave and removed the electric vehicle mandate, which he said Elon had known about for months. According to Trump, this is what made Elon react strongly.
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