Elon Musk, CEO of Tesla and self-proclaimed ‘First Buddy’ of US President Donald Trump, has stepped up criticism of the president's massive tax legislation in recent days. Investors are starting to notice.
Tesla shares dropped more than 5.0 per cent on Thursday on a day otherwise devoid of news for the electric vehicle maker, leading traders to speculate that Musk’s increasingly pointed rhetoric suggests strain in the relationship that has benefited his sprawling empire of businesses.
President Trump said on Thursday that Musk was upset because the bill took the EV mandate away.“Look, Elon and I had a great relationship. I don’t know if we will anymore,” the president said.
“He said the most beautiful things about me. And he hasn’t said bad about me personally. That’ll be next. But I'm very disappointed.” Trump's comments extended a decline in Tesla shares.
