this post was submitted on 05 Jun 2025
577 points (98.7% liked)

News

29944 readers
2878 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 2 years ago
MODERATORS
 

Car company’s shares dropped by 14.2% and its billionaire CEO’s net worth reduced by $8.73bn

Tesla’s shares dropped by about 14.2% on Thursday at market close, wiping roughly $152bn off the value of the company as a feud between Elon Musk and Donald Trump erupted into public view. 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.

The decline in Tesla’s share price on Thursday knocked about $8.73bn off Musk’s total net worth, according to the Bloomberg Billionaires Index. The reported $152bn drop also decreased the value of the company to roughly $900bn.

Tesla has struggled throughout the year amid declining sales and buyers around the world rejecting the automaker due to Musk’s association with far-right politics. Stock traders who had shorted Tesla shares made billions amid the spat, per the Wall Street Journal.

top 50 comments
sorted by: hot top controversial new old
[–] Wilco@lemm.ee 9 points 1 day ago (1 children)

Step 1: Piss off liberals by bankrolling MAGA facists and lose 40-50% of the customer base. Step 2: Piss off MAGA and the other 40-50% of the US customer base. Step 3: Profit?

[–] Darleys_Brew@lemmy.ml 6 points 1 day ago (1 children)

I wish I was as good a businessman as these two.

[–] Charlxmagne@lemmy.world 2 points 1 day ago* (last edited 1 day ago)

The only money Trump ever made was by pretending he was rich from a TV show he literally copied from Alan Sugar. Before that he bankrupted everything he touched, how the fuck can you actually bankrupt both a casino and a mortgage company, I probably couldn't do that on purpose if I wanted to 🤦‍♂️

[–] ZMoney@lemmy.world 11 points 1 day ago* (last edited 1 day ago)

Wild how international finance is now tied to a feud between a rodeo clown and an adult gundam nerd. I thought the subprime mortgage crisis was stupid but this has to break some record. I've accepted that the world will get progressively dumber in my lifetime but at this point I can't imagine how.

[–] MangioneDontMiss@lemmy.ca 5 points 1 day ago

This is funny, but its a bit disappointing that almost no one is talking about how Musk was trying to get his friend appointed head of NASA, thereby assuring long term government contracts with Space X.

Corruption fucking everywhere.

[–] Ghostalmedia@lemmy.world 120 points 2 days ago (5 children)

Trump’s Big Beautiful Bill AND Musk’s publicly traded stocks tanking? In one week?

[–] TropicalDingdong@lemmy.world 39 points 2 days ago (2 children)

Someday we'll be able to get gif tattoos and I'm getting this one.

[–] vaultdweller013@sh.itjust.works 19 points 2 days ago (4 children)

If you got fat enough you could make get the fat rolls tattooed like it's a flip book.

[–] Ghostalmedia@lemmy.world 11 points 2 days ago (1 children)

Or just get all of the key frames tattooed around your waist and then twirl around.

load more comments (1 replies)
load more comments (3 replies)
load more comments (1 replies)
[–] takeda@lemmy.dbzer0.com 11 points 2 days ago

I wouldn't be sure about the Big Billionaire Bill (that's more apt name) I'm sure Republicans will fold and pass it at 4am with some modifications

load more comments (3 replies)
[–] Scotty_Trees@lemmy.world 22 points 2 days ago (4 children)

This is like the dozen'th article of Elon getting his wealth "wiped out"

Looking forward to see this exact article again next week. This is noise, not news.

[–] saimen@feddit.org 3 points 2 days ago

Yeah these news are so useless. Just look at the chart: it wiped out 152bn which he just gained a few weeks before.

load more comments (3 replies)
[–] TropicalDingdong@lemmy.world 94 points 2 days ago
[–] WindyRebel@lemmy.world 22 points 2 days ago (2 children)

My opinion is that all of these public fights are just theater distracting from passing things behind our back. In a few days they will suddenly make up after they pass whatever they want.

I am so fucking tired of the political bullshit.

[–] rumba@lemmy.zip 9 points 2 days ago

I think they're not theater, But I think they are definitely being used as as well to do some shit behind our backs.

Sure mush will use the drop in worth to buy more Tesla at a discount, but posting Epstein videos/pictures/links about Taco.... That's not playing around.

[–] Ledericas@lemm.ee 1 points 1 day ago

obfuscation of the BBB, TARIFFS, DOGE cuts. musk doesnt have access to epstein files, hes basically just rehashing whats been reported in the media already.

[–] Etterra@discuss.online 3 points 1 day ago

Oh yeah baby give me more of that sweet, sweet schadenfreude.

[–] Ilixtze@lemm.ee 51 points 2 days ago* (last edited 2 days ago) (4 children)

As much as I love to see musk eating shit; I am also bracing myself expecting democrats to embrace him as an "Ally." American politicians just love it when the most evil corporate monsters are on their side.

[–] BigMikeInAustin@lemmy.world 12 points 2 days ago (1 children)

And we'll find out in a few decades that politicians from both sides bought tons of stock futures to short the stock hours before this happened.

[–] JustAnotherPodunk@lemmy.world 11 points 2 days ago

The black eye was signal enough to short that only a moron couldn't see this as the start of the breakdown. We've been waiting for this to come to a head since the campaign trail. No one is supposed it is happening. Most are surprised it took this long.

[–] Ensign_Crab@lemmy.world 3 points 2 days ago

They've been waiting for this moment since he delivered his nazi salute.

[–] burgerpocalyse@lemmy.world 7 points 2 days ago

well its specifically two democrats, Ro Khanna and Ritchie Torres https://www.foxnews.com/politics/democrats-begin-embrace-musk-amid-trump-spat-after-party-railed-against-him-dictator. Khanna is incidentally the house representative for Silicon Valleys district, and Torres is of course a Zionist stooge

load more comments (1 replies)
[–] xtr0n@sh.itjust.works 60 points 2 days ago (2 children)

It was lower in April and March. The stock had been oscillating wildly between $375 and $225 all year and has no relation to any of the actual finances of the company. Considering that the budget bill under consideration could remove the clean energy credits that keep the company in the black, the stock should be much lower.

[–] TropicalDingdong@lemmy.world 26 points 2 days ago (2 children)

actual finances of the company

never has, never will.

[–] xtr0n@sh.itjust.works 11 points 2 days ago

Maybe someday. 🤞🏾And then Phoney Stark won’t have to worry about whether we’re taxing billionaires enough 🙏🏾

load more comments (1 replies)
[–] givesomefucks@lemmy.world 12 points 2 days ago (1 children)

It's not just that, they need Chinese rare earth minerals...

Like, Musk just spent 15 billion on a factory for batteries that he now can't afford the raw materials for.

[–] xtr0n@sh.itjust.works 9 points 2 days ago (1 children)

Wow. So he was just too geeked out on K to complain about all the tariff drama the last few months? I thought Xi said they may just straight up stop selling some of that stuff to us? Not sure if it was rare earth minerals or some other rare substance that’s needed for military applications. Elon and Trump are some real fucking geniuses. 🙄

[–] givesomefucks@lemmy.world 9 points 2 days ago

Yeah, it's all the same shit.

But especially for EV batteries, the tarrifs make the raw materials so expensive a lot of companies are looking to offshore their manufacturing because if they're made somewhere else, only Americans pay the tarrifs on completed vehicles.

If the raw materials face a 150% tarrif, then even if theyre sold in Canada or Mexico, the tarrifs drive up prices and lowers sales.

[–] TankovayaDiviziya@lemmy.world 7 points 2 days ago (1 children)

Well, I called it. People thought Tesla stocks will still recover but so long as he is the CEO, the stocks will only go down.

[–] Etterra@discuss.online 2 points 1 day ago

Line go down!? surprised Pikachu face

[–] Bieren@lemmy.world 16 points 2 days ago

And they will make up in a few days. Trump will give his fuck boy a few extra government contracts. All of musks stocks will soar. Unless someone actually starts doing something other than post on whatever social media. This is nothing more than market manipulation.

[–] skisnow@lemmy.ca 16 points 2 days ago* (last edited 2 days ago) (1 children)

It's still up more than 20% above what it spent most of March and April at.

I want to find one of these people who just bought TSLA at $284 and ask them what possible basis do they have for thinking the company's earnings will grow by the 6,000% that it needs to in order to start returning anything like the industry average.

Tesla could achieve phenomenal unexpected growth and increase their market share by a factor of ten and they'd still have a massively unsustainable PE ratio.

It's a shitcoin fueled by hype. TSLA might as well be on Solana for all the legitimacy the company has.

0

[–] chirospasm@lemmy.ml 30 points 2 days ago (3 children)
[–] givesomefucks@lemmy.world 10 points 2 days ago (3 children)

I love tesler

What's hilarious is Tesla was propped up by maga buying it cuz Trump said to. And maga probably won't be able to win primaries let alone generals without musks money.

Like wasn't it just a month ago the BBB passed the House by a single vote after Musk had to threaten to back primary challengera against Republicans that voted against it?

load more comments (3 replies)
load more comments (2 replies)
[–] lupusblackfur@lemmy.world 21 points 2 days ago (5 children)

Ah, that tasty delicious schadenfreude!!

The best part is, in this battle of "wits", they are both entirely and completely unarmed.

😂 🤣 🖕

[–] brygphilomena@lemmy.dbzer0.com 5 points 2 days ago (2 children)

It would be funny to see musk burn the reputation has with both left wing for everything he's done up to now. And the right with this fued.

Who will be left to buy his cars?

[–] Ledericas@lemm.ee 1 points 1 day ago

he can go scorched earth and directing xitter to attack trump, and primary some of the maga people in congress.

[–] GaMEChld@lemmy.world 3 points 2 days ago

Not to mention the price is nonsense, no way reflective of their sales numbers or profits.

[–] NocturnalMorning@lemmy.world 12 points 2 days ago (1 children)

If this is real, and not some elaborate ruse to manipulate the market, I'm all for it. Fuck these guys.

load more comments (1 replies)
[–] rayyy@lemmy.world 7 points 2 days ago

Fight, fight, fight.

[–] joel_feila@lemmy.world 1 points 1 day ago

Go trumpy tank that stock

[–] madjo@feddit.nl 9 points 2 days ago

Does he still love Tesler?

[–] NauticalNoodle@lemmy.ml 6 points 2 days ago (1 children)

Eh, Tesler stock value hasn't even returned to the value it had on April 8th, and even then it was only returning to the pre-election value. When Musk anounced his dark maga bullshit and inserted himself into politics Tesler's value shot through the roof. Ever since then it seems like investors want to believe that added real value. I'm unconvinced.

load more comments (1 replies)
[–] credo@lemmy.world 12 points 2 days ago (1 children)

The true beauty of these idiots’ refusal to read a book and learn from history is: They will always eat each other in the end.

load more comments (1 replies)
load more comments
view more: next ›