President Donald Trump and Elon Musk are set to speak on Friday, following a heated and highly publicized feud that played out across social media. The clash involved sharp exchanges over government contracts and policy, with Musk even calling for Trump’s impeachment.
A White House official confirmed the upcoming call between the U.S. president and the Tesla and SpaceX CEO but declined to specify a time. The discussion could potentially calm tensions after a dramatic series of public confrontations that marked the breakdown of what was once a strong political and business alliance.
Tesla representatives have not commented on the scheduled conversation.
Tesla shares took a steep hit on Thursday, falling over 14% and wiping out nearly $150 billion in market value—the biggest one-day drop in the company’s history. However, pre-market trading on Friday showed a rebound of about 5% following news of the scheduled call, first reported by Politico.
Trump’s Truth Social parent company, Trump Media and Technology Group, also experienced a downturn, closing 8.04% lower at $20.12, with only a slight 0.2% uptick in early Friday trading.
Once a key supporter of Trump’s campaign—contributing nearly $300 million—and a prominent voice in his administration’s cost-cutting efforts, Musk resigned last week from his position as head of the Department of Government Efficiency. Tensions escalated after Musk publicly criticized Trump’s sweeping tax and spending bill, warning it would worsen the nation’s $36.2 trillion debt.
Trump initially remained silent but expressed his disappointment on Thursday, stating:
“Look, Elon and I had a great relationship. I don’t know if we will anymore.”
Musk fired back on X (formerly Twitter), claiming Trump would have lost the last election without his financial and strategic support. He further warned that Trump’s import tariffs could push the U.S. economy into a recession.
The feud intensified as Trump proposed cutting off Musk’s government contracts and subsidies, to which Musk replied “Yes” in agreement with a post calling for Trump’s impeachment—a move unlikely to gain traction in a Republican-controlled Congress.
SpaceX, Musk’s aerospace firm and a key U.S. government contractor, appeared to be caught in the crossfire. Musk threatened to decommission the Dragon spacecraft, the only American vehicle capable of transporting astronauts to the International Space Station. He later walked back the threat.
Signs of reconciliation appeared late Thursday when Musk responded “You’re not wrong” to investor Bill Ackman’s call for peace between the two figures.
Both Trump and Musk are known for using social media as a weapon, and many political insiders had long predicted a clash. The fallout could further deepen divisions within the Republican Party, especially as Musk denounced Trump’s so-called “big, beautiful bill” as a “disgusting abomination” that could raise national debt by $2.4 to $5 trillion, according to nonpartisan estimates.
Republican strategists warn that the rift could damage GOP prospects in the next midterm elections, especially if Musk pulls his support or reduces campaign spending.
“Elon really was a significant portion of the ground game this last cycle,” said a Republican strategist familiar with both camps. “If he sits out the midterms, that worries me.”
Musk has signaled a shift away from political donations, and his increased political involvement has triggered backlash from Tesla employees and investors, raising concerns that his divided focus is hurting his core businesses.
