Elon Musk Backs Off Donald Trump Clash as Tesla Stock Struggles to Stabilize

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Elon Musk Backs Off Donald Trump Clash as Tesla Stock
Tesla CEO Elon Musk listens as U.S. President Donald Trump speaks to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. Kevin Dietsch/Getty Images/Getty Images

Elon Musk says he now regrets some of his online comments about President Donald Trump, signaling a step back from their heated public clash just days ago.

On Wednesday morning, Musk posted on his social media platform X, "I regret some of my posts about President @realDonaldTrump last week. They went too far."

The comments came after a phone call between Musk and Trump on Monday, though sources haven't shared what was said.

The conversation followed pressure from Vice President JD Vance and White House Chief of Staff Susie Wiles, who urged Musk last week to ease tensions.

The rift started after Musk harshly criticized a spending bill supported by the president, calling it an "abomination." The argument quickly escalated on social media, with Musk even suggesting he might start his own political party.

According to CBS News, Trump fired back with warnings that Musk could face "serious consequences" if he backed Democratic candidates in upcoming elections.

Tesla Stock Wobbles as Musk-Trump Feud Unnerves Investors

This dispute rattled investors. Tesla stock dropped over 14% last Thursday, wiping $150 billion off its value.

Though shares have mostly recovered, Wednesday's small gain of 0.1% shows investors are still uneasy, AP News said.

The timing of the fight also raised concerns ahead of Tesla's expected launch of self-driving "robotaxis" in Austin, Texas, scheduled for June 22.

Musk's companies, including Tesla and SpaceX, rely heavily on federal contracts and support. With Trump in office, many investors hoped for relaxed regulations, especially around self-driving vehicles.

The spat raised fears that the White House might tighten rules or slow approval processes in response.

Adding to the tension, Musk had deleted one post tying Trump to Jeffrey Epstein but left up others criticizing the president's leadership and claiming credit for Trump's 2024 win.

In an interview published Wednesday, Trump seemed open to moving forward. "Things like that happen. I don't blame him for anything," he said on a New York Post podcast.

But just days earlier, he had warned that Musk's political choices could bring consequences.

The White House welcomed Musk's public apology. Press Secretary Karoline Leavitt said Trump was "appreciative" of the gesture.

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Elon Musk, Donald Trump

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