Tesla stock fell on Thursday amid President Donald Trump and Elon Musk’s continued public feud.
Trump made his first public comments on Musk’s meltdown in the Oval Office on Thursday, saying that the billionaire’s hatred of the bill was for selfish reasons.
“Elon’s upset because we took the EV mandate, which was a lot of money for electric vehicles and they’re having a hard time with electric vehicles and they want us to pay billions of dollars in subsidies,” he said. “I’m very disappointed because Elon knew the inner workings of this bill better than almost anybody sitting here. Better than you people. He knew everything about it. He had no problem with it.”
Musk responded “whatever” to a video of Trump’s comments on X.
Yahoo! Finance reported that Tesla stock fell as much as 8% just after Musk’s post went up. Forbes reported that by 3:25 p.m. ET, the stock had fallen around 17%. Forbes estimates that Musk’s net worth decreased by more than $17 billion amid the stock decline. The tumble comes weeks after the electric vehicle maker experienced a 22% stock market jump, despite weak sales, after Musk announced his departure from the federal government.
Tesla’s share price is down 29% since Trump’s inauguration in January.