World’s richest man, Elon Musk has apologised for last week’s scathing criticism of US President Donald Trump and his administration, admitting he went too far with some of his comments.
His apology is contained in an X post on Wednesday morning.
Trump and Musk engaged in a public spat last week over the former’s controversial spending bill.
The feud, which unfolded across social media platforms, sent shockwaves across political and financial circles, wiping billions from Musk’s net worth and raising questions about the future of his companies’ government contracts.
Musk, who recently stepped down from his role as Head of the Department of Government Efficiency (DOGE), labelled Trump’s sweeping tax and spending legislation a “disgusting abomination” on his X platform.
The bill, a cornerstone of Trump’s second-term agenda, is estimated by the Congressional Budget Office to add $2.4 trillion to the federal deficit over a decade and could leave 11 million Americans without health coverage.
A vocal advocate for fiscal restraint during his DOGE tenure, Musk argued the bill undermines cost-cutting efforts.
Trump fired back on Truth Social, accusing Musk of “wearing thin” and claiming he asked the billionaire to leave his advisory role.
“The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts,” Trump wrote, threatening Musk’s companies, including Tesla and SpaceX, which rely heavily on federal partnerships.
Trump also claimed he removed an electric vehicle mandate, a move he said sent Musk “crazy.”
Musk fired back, asserting on X that Trump “would have lost the 2024 election” without his financial and campaign support, which included nearly $300 million in donations.
He further claimed that the controversial Epstein files had not been released because the president was named on it and shared a 1992 video of Trump socialising with Epstein.
Musk later deleted the Epstein post and a call for Trump’s impeachment, but not before the remarks fuelled widespread speculation.
Musk immediately felt the brunt of the fallout as Tesla’s stock plummeted 14% on Thursday, erasing $152 billion from its market capitalisation and costing the billionaire $34 billion of his personal fortune.
Musk’s SpaceX, which is critical to US space operations, also faced uncertainty after he briefly threatened to decommission its Dragon spacecraft, a move he later retracted.
