Musk calls for President Trump’s impeachment

In a dramatic turn of events, tech billionaire Elon Musk has publicly called for the impeachment of President Donald Trump, marking a significant rupture in their previously close relationship. The fallout stems from disagreements over a controversial tax and spending bill and allegations involving the late financier Jeffrey Epstein.

On June 5, Musk responded affirmatively to a social media post suggesting Trump’s impeachment and replacement by Vice President JD Vance. This endorsement followed Musk’s claims that the Trump administration was withholding documents related to Epstein that could implicate the president. Musk’s accusations, made without presenting evidence, intensified the political rift between the two figures.

The feud escalated when Musk criticized Trump’s proposed “One Big Beautiful Bill,” labeling it a “disgusting abomination” due to its potential to increase the national deficit by $3 trillion. Trump retaliated by threatening to cut federal contracts and subsidies to Musk’s companies, including Tesla and SpaceX.

The public spat had immediate financial repercussions. Tesla’s stock plummeted by 16%, erasing approximately $150 billion in market value, while shares of Trump Media & Technology Group fell by 8%.

Amidst the turmoil, Musk threatened to halt operations of SpaceX’s Dragon spacecraft, a critical component of NASA’s transport to orbit. Although he later rescinded this threat, the move underscored the severity of the conflict.

The White House has arranged a call between Trump and Musk in an attempt to de-escalate tensions. However, both parties have expressed skepticism about reconciliation. Trump dismissed Musk as “the man who lost his mind,” while Musk continued to criticize the president’s policies.

This public fallout not only highlights the fragility of political alliances but also raises questions about the influence of unelected individuals in government affairs. As the situation develops, the implications for both the political landscape and the business sector remain uncertain.