Growing tensions between US President Donald Trump and Tesla carmaker Elon Musk are causing considerable concern among investors and are having a direct impact on the company's share price. The conflict, which escalated following Musk's accusation of Trump's ties to the late Jeffrey Epstein, contributed to Tesla's stock falling 12 percent in just two days, US broadcaster Fox Business reported. Investors are now worried that the fractured relationship between the two influential figures could threaten the future of one of the most important technology companies.
Elon Musk, the well-known entrepreneur and head of Tesla and SpaceX, on Thursday spoke out strongly about the Republican budget plan being pushed by the Trump administration. The plan, described by Trump as a "big, beautiful proposal", does not solve, according to Musk, but instead exacerbates the problem of the US national debt, which is currently approaching a staggering $37 trillion.
Tensions between the two men rose further when Musk suggested on social media that Trump was involved in documents linked to Jeffrey Epstein, the controversial financier and convicted pedophile who died in prison in 2019 under unclear circumstances.
Republican MPs were quick to react, calling Musk's words unfounded and inappropriate. "If Trump did indeed have deeper ties to Epstein, it would have surfaced during the Republican primary, when opponents were attacking him from all sides," said the deputy Anna Paulina Luna from Florida, who leads a task force to declassify federal investigations, including the Epstein case.
Sources close to Trump recalled that the president permanently banned Epstein from his Mar-a-Lago mansion in Florida after Epstein molested the underage daughter of one of the club members there. "Musk's claim is unfair and needlessly damages the president's reputation," said one Republican lawmaker.
Tesla's 12 percent drop in shares since Wednesday has sparked a wave of concern among investors who have long seen the company's value closely tied to the person of Elon Musk, his vision and ability to attract capital. Trump and Musk were until recently considered allies, with Musk publicly praising Trump and even jokingly referring to him as "loves as a heterosexual man can love a heterosexual man".
But now the rising tensions are threatening the stability of Tesla, whose stock is sensitive to any controversy surrounding its boss. Analysts warn that if the dispute between the two men escalates further, it could have long-term negative effects on investor confidence and Tesla's market position.
Member of Parliament Ralph Norman from South Carolina commented on the situation, calling for greater openness. "Whatever the truth, we need full transparency about the Epstein documents to end the speculation," he said. The U.S. administration had previously released some of the Epstein-related documents where Trump's name appeared, but sources close to the White House said that was expected information without new revelations. "Everyone already knew, it's not a surprise Musk revealed," one of them added.
foxnews.com/gnews.cz - GH
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