this post was submitted on 05 Jun 2025
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Car company’s shares dropped by 14.2% and its billionaire CEO’s net worth reduced by $8.73bn

Tesla’s shares dropped by about 14.2% on Thursday at market close, wiping roughly $152bn off the value of the company as a feud between Elon Musk and Donald Trump erupted into public view. The former political allies traded threats and insults through posts on their respective social media platforms throughout the afternoon as the company’s price fell.

The decline in Tesla’s share price on Thursday knocked about $8.73bn off Musk’s total net worth, according to the Bloomberg Billionaires Index. The reported $152bn drop also decreased the value of the company to roughly $900bn.

Tesla has struggled throughout the year amid declining sales and buyers around the world rejecting the automaker due to Musk’s association with far-right politics. Stock traders who had shorted Tesla shares made billions amid the spat, per the Wall Street Journal.

(page 2) 36 comments
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[–] [email protected] 51 points 2 days ago* (last edited 2 days ago) (4 children)

As much as I love to see musk eating shit; I am also bracing myself expecting democrats to embrace him as an "Ally." American politicians just love it when the most evil corporate monsters are on their side.

[–] [email protected] 4 points 2 days ago

Democrats are back to their pre-party switch status

[–] [email protected] 12 points 2 days ago (1 children)

And we'll find out in a few decades that politicians from both sides bought tons of stock futures to short the stock hours before this happened.

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[–] [email protected] 5 points 2 days ago

Maybe we'll get lucky and they'll fued each other into oblivion.

[–] [email protected] 8 points 2 days ago (1 children)

Oh no, is the company not considered stable if it loses its government welfare?

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[–] [email protected] 7 points 2 days ago* (last edited 2 days ago)

The only thing that was propping their stock up was the investors acknowledging that Elon's proximity to the White House would allow him to pull strings to get preferential treatment for his companies. You know, blatant corruption. Now it's going to he the opposite.

[–] [email protected] -1 points 2 days ago (1 children)

Is because the right can hate on Musk again now that thier leader is, again?

[–] [email protected] 1 points 2 days ago

he caught onto trumps coattails too late, they cant have to 2 cult leaders, only one.

[–] [email protected] 4 points 2 days ago (1 children)

The rich pretend they're all powerful but really they have a much less secure money source. Where as we know our money is ours the rich can lose everything like that. Elon could go broke in a single day he's on his way out of the billionaire club because now everyone hates him

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[–] [email protected] 21 points 2 days ago (3 children)

Ah, that tasty delicious schadenfreude!!

The best part is, in this battle of "wits", they are both entirely and completely unarmed.

😂 🤣 🖕

[–] [email protected] 8 points 2 days ago* (last edited 2 days ago) (2 children)

Lol. Stealing that. Here, have a meme in exchange.

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[–] [email protected] 12 points 2 days ago (1 children)

The true beauty of these idiots’ refusal to read a book and learn from history is: They will always eat each other in the end.

[–] [email protected] 4 points 2 days ago

It's like Caesar and pompey if there was 10x more lead in the water supply

[–] [email protected] 59 points 2 days ago (2 children)

It was lower in April and March. The stock had been oscillating wildly between $375 and $225 all year and has no relation to any of the actual finances of the company. Considering that the budget bill under consideration could remove the clean energy credits that keep the company in the black, the stock should be much lower.

[–] [email protected] 11 points 2 days ago (1 children)

It's not just that, they need Chinese rare earth minerals...

Like, Musk just spent 15 billion on a factory for batteries that he now can't afford the raw materials for.

[–] [email protected] 9 points 2 days ago (1 children)

Wow. So he was just too geeked out on K to complain about all the tariff drama the last few months? I thought Xi said they may just straight up stop selling some of that stuff to us? Not sure if it was rare earth minerals or some other rare substance that’s needed for military applications. Elon and Trump are some real fucking geniuses. 🙄

[–] [email protected] 9 points 2 days ago

Yeah, it's all the same shit.

But especially for EV batteries, the tarrifs make the raw materials so expensive a lot of companies are looking to offshore their manufacturing because if they're made somewhere else, only Americans pay the tarrifs on completed vehicles.

If the raw materials face a 150% tarrif, then even if theyre sold in Canada or Mexico, the tarrifs drive up prices and lowers sales.

[–] [email protected] 25 points 2 days ago (2 children)

actual finances of the company

never has, never will.

[–] [email protected] 11 points 2 days ago

Maybe someday. 🤞🏾And then Phoney Stark won’t have to worry about whether we’re taxing billionaires enough 🙏🏾

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[–] [email protected] 118 points 2 days ago (3 children)

Trump’s Big Beautiful Bill AND Musk’s publicly traded stocks tanking? In one week?

[–] [email protected] 10 points 2 days ago

I wouldn't be sure about the Big Billionaire Bill (that's more apt name) I'm sure Republicans will fold and pass it at 4am with some modifications

[–] [email protected] 6 points 2 days ago (2 children)

Are we sure the bill is tanked?

[–] [email protected] 4 points 2 days ago

Like Telsa’s stock, it’s on a downward spiral this week, but it’s far from dead.

[–] [email protected] 22 points 2 days ago

We have seen those things already... The Republicans will say that there's snowball chance in hell that they will pas it then at 4am will pass it with a single vote.

[–] [email protected] 37 points 2 days ago (2 children)

Someday we'll be able to get gif tattoos and I'm getting this one.

[–] [email protected] 6 points 2 days ago* (last edited 2 days ago)

Subdermal e-ink particles, perhaps?

[–] [email protected] 18 points 2 days ago (4 children)

If you got fat enough you could make get the fat rolls tattooed like it's a flip book.

[–] [email protected] 11 points 2 days ago (1 children)

Or just get all of the key frames tattooed around your waist and then twirl around.

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[–] [email protected] 29 points 2 days ago (2 children)
[–] [email protected] 8 points 2 days ago (1 children)
[–] [email protected] 5 points 2 days ago

I Love Tesler!

[–] [email protected] 10 points 2 days ago (3 children)

I love tesler

What's hilarious is Tesla was propped up by maga buying it cuz Trump said to. And maga probably won't be able to win primaries let alone generals without musks money.

Like wasn't it just a month ago the BBB passed the House by a single vote after Musk had to threaten to back primary challengera against Republicans that voted against it?

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[–] [email protected] 0 points 2 days ago

thats why hes flailingt.

[–] [email protected] 4 points 2 days ago
[–] [email protected] 92 points 2 days ago
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