Last Updated:June 12, 2025, 15:19 IST
Market watchers believe Musk’s public regret played a role in cooling the controversy and stabilising his business reputation.
Elon Musk has floated a new party after his public feud with Donald Trump. (Reuters Image)
Elon Musk Net Worth: Tesla and SpaceX CEO Elon Musk saw his net worth climb, gaining nearly $191 million — a sign of recovering investor sentiment following his public apology over controversial tweets about U.S. President Donald Trump. According to Forbes Billionaire Index, his net worth currently stands at $411.4 billion.
In a post on Wednesday morning on X (formerly Twitter), Musk wrote: “I regret some of my posts about President @realDonaldTrump last week. They went too far.” The statement came after rising political tension and strong criticism over Musk’s online behaviour, including posts accusing Trump of “ingratitude” toward tech leaders, backing his impeachment, and mocking his legislative record. One now-deleted post even linked Trump’s name to the Jeffrey Epstein files.
Trump and Musk began exchanging insults last week, with the Tesla and SpaceX CEO describing the President’s sweeping tax and spending bill as a “disgusting abomination”.
Musk bankrolled a large part of Trump’s 2024 presidential campaign.
After endorsing Trump, Musk spent USD 288 million (AUD 444 million) supporting Trump’s election and appeared at campaign events around the country.
Trump named Musk to head an effort to downsize the federal workforce and slash spending.
Tensions erupted over Trump’s ‘One Big Beautiful Bill’ (OBBB, which proposes extensive tax cuts which could add roughly USD 3 trillion (AUD 4.62 trillion) to the US national debt.
After stepping down from his role as advisor to Trump, Musk criticised the OBBB as a “disgusting abomination” that would “burden America [sic] citizens with crushing unsustainable debt”.
Trump returned fire, suggesting “Elon was ‘wearing thin’, I asked him to leave […] and he just went CRAZY!”.
In a dramatic escalation, Musk responded by calling for Trump’s impeachment.
Musk also tweeted allegations that Trump was implicated in the Epstein files related to child sex offender Jeffrey Epstein.
He has since deleted those tweets.
In response to Musk’s statement, Trump shared several posts on Truth Social.
In one of the posts, he wrote, “I don’t mind Elon turning against me, but he should have done so months ago,” suggesting that Musk knew what was in the bill before it was passed.
He also threatened to terminate Elon Musk’s company’s contracts with the government.
Meanwhile, other tech billionaires saw mixed fortunes. Mark Zuckerberg and Jeff Bezos saw declines in their wealth by $2.8 billion and $4 billion respectively, while Larry Ellison and Warren Buffett also registered small losses.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
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