The violent dispute between Elon Musk and US President Donald Trump sent the share of the electric car manufacturer Tesla on a descent. The newspaper of the Musk, led by Musk, lost more than 14 percent in US trade on Thursday.
The Bloomberg Financial Service estimated that Musk’s assets fell to $ 335 billion in just one day by slightly less than $ 335 billion. On Thursday, Trump had discussed the withdrawal of subsidies and orders from the government on Thursday.
The trigger for the dismantling of Musk and Trump was a dispute about the tax and budget law promoted by the US president. Musk requires stronger cuts and warns of a vast budget deficit. Trump, on the other hand, suggested that Musk only creates a vote against the law because it would reduce subsidies for electric cars.
Course Rose Steil after the choice of Trump
The course of the Tesla share had risen steeply after the US presidential elections in November. At that time, investors speculated that Tesla would benefit from the proximity of Musk with Trump. Tesla has been focused on various studies by the NHTSA Traffic Safety Authority for years. At the same time, Musk’s correct political views shouted some potential Tesla buyers. There were always protests against the technical billionaire and also arson attacks on Tesla vehicles.
For Musk personally, a serious decrease in the share price of Tesla can become a problem. It is known that the technical billionaire loans secure with his Tesla shares, which at least make him the richest person in the world on paper.
In such transactions you often have to add protection if the course falls under certain limit values. As can be seen in the updated annual report of the manufacturer of the electric cars for 2024, Musk has, as security for loans, stored nearly 236 million of his Tesla shares.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
