Trump and Musk feud erupts over deficit bill

(CNN)-A once-strong alliance between President Donald Trump and tech billionaire Elon Musk appears to be unraveling — with both men trading jabs in a public feud that could carry serious consequences for them and the broader political and financial landscape.

“Elon and I had a great relationship. Uh, I don’t know if we will anymore,” Trump said recently, hinting at a rift now playing out across social media platforms.

At the center of the conflict is what Trump has dubbed his “big, beautiful bill” — a sweeping economic package that nonpartisan analysts say could add $2.4 trillion to the national deficit over the next decade. Musk, in a critical post, argued the bill would “defeat all the cost savings achieved by DOGE,” referencing broader concerns over economic sustainability.

Podcast host Kara Swisher, known for her shows

On

and

Pivot

, says the clash could embolden others to challenge Trump. “If this guy does it, maybe we can do it,” she noted.

Even some Republicans are signaling discomfort with the bill. Rep. Thomas Massie of Kentucky, who voted against it, said, “I think the patient is on life support.” Sen. Ron Johnson of Wisconsin added, “It’s easy to be the parent that says we’re going to Disney World. It’s hard to be the parent that says, yeah, but we can’t afford it.”

Musk has tried to strike a more diplomatic tone at times, reposting a message about making peace after floating the idea of starting a new political party in a recent online poll.

Still, the fallout has been significant. Musk’s net worth reportedly took a $34 billion hit in a single day, according to the Bloomberg Billionaires Index. Meanwhile, FactSet reports that Tesla just suffered the largest single-day drop in market value in history. Trump, for his part, still holds levers of power — particularly over Musk’s lucrative government contracts.