Tesla share plunge amid Trump feud wipes $8.73bn off Elon Musk’s net worth

Car company's shares dropped by 14.2% as US president and the billionaire trade barbs on social media

Tesla's shares dropped by around 14.2% on Thursday at market close as a feud between Elon Musk and Donald Trump erupted into public view, decreasing the value of the company to roughly $900bn. The former political allies traded threats and insults through posts on their respective social media platforms throughout the afternoon as the company's price fell.

Trump suggested on Truth Social that he could cut Musk's government subsidies and contracts, of which both Tesla and SpaceX have been immense beneficiaries. Musk meanwhile threatened to decommission the SpaceX spacecraft that Nasa relies on for transport missions, called for Trump's impeachment, derided the president's signature tariffs and accused him of being affiliated with notorious sex offender Jeffrey Epstein.