In a surprising turn of events, tech billionaire Elon Musk has expressed regret over certain social media posts he made about US President Donald Trump, marking a significant shift in tone after a heated public dispute between the two last week. The feud, which played out on social media platforms owned by both men, had sparked concerns over the future of Musk's businesses, including Tesla and SpaceX, and had even prompted the White House to suggest terminating government contracts and subsidies awarded to Musk's companies. However, in a statement posted on the X social media platform, Musk appeared to be extending an olive branch, saying "I regret some of my posts about President @realDonaldTrump last week. They went too far."
The conflict between Musk and Trump had been brewing over the Trump-backed "One Big Beautiful Bill Act" tax and spending bill, which Musk had opposed due to concerns that it would undermine the work of the Department of Government Efficiency (DOGE), a budget-slashing initiative that Musk had been leading under Trump's second administration. Musk had taken to social media to blast the bill, saying it would substantially increase the US budget deficit, a claim that the Trump administration had refuted. The dispute had escalated quickly, with both men exchanging barbs on social media, and had even seen Musk accuse Trump of being mentioned in the "files" of late sexual offender Jeffrey Epstein, a claim that the White House had disputed.
The feud had significant implications for Musk's businesses, with Tesla seeing its biggest ever hit to its market cap in the aftermath of the dispute. However, shares have since been recouping losses, suggesting that investors are cautiously optimistic about the company's prospects. The dispute had also raised questions about the future of the DOGE initiative, which had been seen as a key priority for the Trump administration. With Musk at the helm, the initiative had been tasked with identifying areas where the government could cut costs and improve efficiency, but it is unclear how the feud will affect the initiative's progress.
Despite the regret expressed by Musk, it is unclear whether the feud is fully resolved. Trump had suggested terminating government contracts and subsidies awarded to Musk's companies, a move that could have significant financial implications for Tesla and SpaceX. However, on Monday, Trump said that he was planning to retain the Starlink technology, a satellite internet service that is part of Musk's SpaceX, at the White House. This suggests that the two men may be looking to put the dispute behind them and move forward, although the exact nature of their relationship and how it will impact their respective businesses remains to be seen.
The public dispute between Musk and Trump serves as a reminder of the risks and challenges of doing business with the government. As a high-profile entrepreneur with significant government contracts, Musk is vulnerable to political fallout and must navigate complex and often unpredictable relationships with government leaders. While the feud may be resolved, it is likely to have lasting implications for Musk's businesses and his relationship with the Trump administration. As the situation continues to unfold, investors and observers will be watching closely to see how the dispute affects the future of Tesla, SpaceX, and the DOGE initiative.
In conclusion, the regret expressed by Elon Musk over his social media posts about President Trump marks a significant development in the feud between the two men. While the dispute may be resolved, its implications will likely be felt for some time, and it serves as a reminder of the complexities and challenges of doing business with the government. As the situation continues to unfold, one thing is clear: the relationship between Musk and Trump will be closely watched, and its impact on the tech tycoon's businesses and the government's initiatives will be carefully monitored.