US President Donald Trump has lost over $ 1.1 billion in one day amid a public conflict with Elon Musk, reports the portal Axios.
According to their information, shares of the company Trump Media & Technology Group fell by 8%, which cost the president $ 202 million. In addition, the value of Trump's meme coin fell by 10%, reducing the state of the head of state by about $ 900 million.
Earlier, Bloomberg reported that Musk lost about $ 34 billion. USD in one day due to a conflict with Trump due to the decline in Tesla shares.
On June 5, Trump and Musk exchanged sharp statements on social networks. The businessman said that without his support, Trump would not have won the November 2024 elections, endorsed the idea of impeaching Trump, criticized the bill initiated by the White House to reduce government spending, import tariffs imposed by the president, and predicted a recession for the US economy in the second half of 2025. Trump, in turn, said that Musk had ceased to effectively fulfill his duties when he led the department's work to improve the efficiency of the US government, and had gone crazy. The head of state threatened to terminate government contracts with Musk's companies, including SpaceX, and to cancel all subsidies.