Canaccord Wealth's Harry Schofield: Trump versus Musk – and other break ups that moved the market

Big consequences

clock • 5 min read

On, off and on again. And so things have gone between US President Donald Trump and his (ex) first buddy, Elon Musk.

Earlier this month, a very public row saw the Republican's biggest campaign donor call Trump's One Big Beautiful Bill Act a "pork-filled and disgusting abomination". Trump responded by saying he "asked [Musk] to leave" and accused him of going "crazy" over the bill's removal of EV credits. The mudslinging then degenerated, with Musk appearing to ‘out' Trump over his connections to convicted sex offender Jeffrey Epstein. The upshot? Tesla stock plunged over 14% in a single day, marking its worst two-day stretch since 2021. And Musk's public criticism of Trump and his party has fract...

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