The public controversy between President Donald Trump and billionaire Elon Musk has shocked the political world and Wall Street, causing Tesla's market value to evade by about $150 billion in just one day, while pushing SpaceX's government contracts worth tens of billions of dollars into danger.
Everything began when Mr. Trump criticized billionaire Elon Musk for protesting the tax cut and public spending bill that the White House was promoting. After Mr. Trump declared "very disappointing" and left the ability to cut the entire contract and allowance, the technology billionaire immediately responded on social network X, saying that Mr. Trump should be impeached.
The incident caused Tesla shares to fall 14.3% in the June 5 trading session - the largest one-day decline in the company's history.
Investors were sold out in large numbers when Mr. Trump posted on Truth Social threatening to terminate all government contracts with billionaire Elon Musk's companies. Of which, SpaceX is holding about $22 billion in contract value with NASA and the Pentagon.
Billionaire Elon Musk initially threatened to stop operating the Dragon spacecraft - the only US vehicle that can currently send spacemen to the International Space Station.
This has made officials worried about the possibility of disruption to the national space program. However, by the evening of the same day (local time), billionaire Elon Musk had broken his voice, saying he would not stop operating the Dragon ship and showed goodwill for reconciliation in subsequent posts.
The case shows a serious rift between two characters who were once close and political allies, in the context that both the White House and the US space industry are heavily dependent on the technology ecosystem controlled by billionaire Elon Musk.
