Trump Blasts Musk For Going ‘Off the Rails’ As Tesla CEO Doubles Down On ‘America Party’ Push

The feud between President Donald Trump and Tesla CEO Elon Musk, which has weighed on the shares of the latter’s electric-vehicle venture, Tesla, Inc. (TSLA), continues to play out.

In his latest salvo, Trump ranted about Musk going completely “off the rails” in a lengthy Truth Social post late Sunday. He complained of the billionaire entrepreneur “essentially becoming a TRAIN WRECK over the past five weeks,” the president said.

Trump referred to Musk’s stiff opposition to his administration’s “One, big, beautiful” bill that has now been signed into law. The Tesla CEO had dubbed it a “Debt Slavery” bill, reasoning that it would result in the most significant debt ceiling increase in history. 

Calling the Republican party the “PORKY PIG PARTY,” Musk also floated the idea of an alternative to the “Democrat-Republican uniparty,” which he referred to as the “America Party.”

Caught in the crosshairs of the duo’s verbal volleys and impacted by a fundamental soft patch, the Tesla stock has lost about 22% for the year-to-date period, even as the broader market trades at a record high. In comparison, the SPDR S&P 500 ETF (SPY), an exchange-traded fund (ETF) that tracks the broader S&P 500 Index, has added over 7%.

Tesla’s stock was the top trending ticker on Stocktwits late Sunday.

On Sunday, Trump took potshots at Musk's idea of a new party, stating that “He even wants to start a Third Political Party, despite the fact that they have never succeeded in the United States - The System seems not designed for them.”

The president said Third Parties only serve to create “Complete and Total DISRUPTION & CHAOS.” To make his case, he noted that the U.S. had its fair share of them with the “Radical Left Democrats.”

Trump, however, had a word of praise for the Republicans. “Republicans, on the other hand, are a smooth running ‘machine,’ that just passed the biggest Bill of its kind in the History of our Country,” he said.

He attributed Musk’s opposition to the Tax bill’s provision that cancels the federal tax credit for EVs. The mandate forces everyone to buy an EV, he reasoned. Trump said he had been opposed to the EV mandate from the very beginning, and its cancellation now provided consumers with the option of buying a car of their choice.

He also noted that he had made his stance on the federal tax credit obvious even when Musk gave him his “total and unquestioned Endorsement.”  Musk and some Silicon Valley venture capitalists threw their weight behind Trump in the 2024 presidential election, with the former even donating to the GOP’s campaign.

Trump said Musk had previously suggested that he had no issues with the cancellation of the EV mandate when he had brought it up in “every speech I made, and in every conversation I had.”

The president also raised a potential conflict of interest. He noted that one of Musk’s close friends, whom the president labeled a “blue-blooded Democrat,” ran NASA.  “I also thought it inappropriate that a very close friend of Elon, who was in the Space Business, run NASA, when NASA is such a big part of Elon’s corporate life,” Trump said.

“My Number One charge is to protect the American Public!”

Musk’s space venture, SpaceX, has been a key partner with NASA in various space exploration and transportation endeavors. NASA is currently led by Janet Petro, who serves as the organization’s Acting Administrator. She took over from Bill Nelson, considered a centrist and moderate Democrat, in late January.

Trump’s outbursts against Musk came despite a seemingly thawed tone of the latter last week when he appreciated the president for his role in resolving “several serious conflicts around the world.”

“Credit where credit is due,” the billionaire had said then.

Musk, on the other hand, continued to voice his opposition to Trump's tax bill. He reupped a post that said, “Tax cuts are worthless if the government keeps overspending. Inflation is the real tax.”

He also repeated his call for the formation of the “America Party” in response to a post that shared data about rising U.S. debt levels, irrespective of which party was in power.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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