Elon Musk, the CEO of Tesla and SpaceX, extended an olive branch to President Donald Trump on Wednesday, expressing regret over his recent social media conduct. In a post on his platform X, Musk stated, “I regret some of my posts about President Donald Trump last week. They went too far,” marking a downturn in the week-long verbal tussle that had captivated public attention. This conciliatory move was met with investor approval, as evidenced by a 2.44 percent rise in Tesla shares in Frankfurt following the announcement.
The feud erupted when Musk, who once served as head of the Department of Government Efficiency (DOGE), lambasted Trump's comprehensive tax and spending legislation, labeling it a “disgusting abomination.” The disagreement swiftly escalated, with Trump announcing the termination of his relationship with Musk and even threatening to pull government support from Musk's ambitious SpaceX projects.
Musk, known for his maverick online persona, initially intensified his rhetoric, sharing provocative posts that targeted the president, including a now-deleted allegation linking Trump to documents concerning the late financier Jeffrey Epstein. This inflammatory accusation, coupled with Musk's fleeting endorsement of impeachment, signaled an unprecedented level of discord between the two men, formerly seen as allies.
The conflict took its toll on the business and political spheres alike, with repercussions potentially affecting SpaceX's funding and Musk's support for Trump's presidential campaign. Inside sources revealed a softening of Musk's stance, hinting at his desire to mend the strained ties.
In the background of these public exchanges, Trump warned of "serious consequences" should Musk act against Republican supporters of the contested spending bill, casting a shadow over their financial and political entanglement. Despite this, Trump's recent comments have shown a more conciliatory tone, wishing Musk well and dialing back the rhetoric.
Errol Musk, Elon's father, spoke about the dispute from a personal perspective. Addressing a conservative business conference in Moscow, he shed light on the stress endured by both men and the need for resolution, stating, “They’ve had five months of intense stress ... that has to stop.” He also touched on the complexities of adhering to principles in the political realm, implying a need for compromise.
The markets' buoyant response to Musk's apology suggests optimism for a resolution. The broader implications of this public spat and subsequent reconciliation highlight the intricate relationship between big business and politics, particularly when played out on the stage of social media.
As the dust settles, it remains to be seen how the dynamics between these two influential figures will evolve. Nevertheless, Musk's apology appears to be a step toward de-escalating one of the more unusual and publicly visible feuds in recent business and political history.
