BREAKING NEWS Tesla shares in death spiral after Trump makes stunning claim about Elon Musk
Elon Musk, the outspoken Tesla CEO and former White House advisor, took to social media to criticize President Donald Trump's proposed tax and spending bill.
On X, formerly known as Twitter, Musk said the bills reported $3 trillion price tag would send the country into 'DEBT SLAVERY.'
He threatened to primary Trump-backed candidates that supported the bill.
Trump hit back with a series of threats, suggesting the federal government could launch investigations into Musk's companies.
He even hinted at deporting Musk, who was born in South Africa.
'Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa,' Trump posted on Truth social.
'No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this?'
Tesla's stock fell between 5.5 and six points in pre-market trading on Tuesday after the barbs.
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North Wales Chronicle
22 minutes ago
- North Wales Chronicle
Keir's first year: Starmer under pressure after a rocky start for Labour
Labour swept back into Downing Street with more than 400 MPs on July 4 last year – clinching a majority just short of Tony Blair's landslide in 1997. A year later, polling expert Professor Sir John Curtice is calling it 'the worst start for any newly elected prime minister'. Sir Keir was accused of setting a gloomy tone at the outset, telling the public that 'things will get worse before they get better' and warning of 'tough choices' and a 'black hole' left in the finances by his predecessors. Soon after, a plan was unveiled to cut back winter fuel payments for pensioners, only for an enduring backlash to see the Government U-turn and widen eligibility months later. This and the recent climbdown over plans for welfare cuts to stave off a backbench rebellion have raised the prospect of further tax rises in the autumn budget as the Chancellor seeks to balance the books. It has also raised the prospect of rebellious MPs being emboldened to continue pushing back on future policy, putting Sir Keir's plans at risk. When it comes to whether voters like him, Sir John has argued that the Government has a 'lack of direction' and that the Prime Minister was 'never especially popular' and that 'the public still don't know what he stands for.' 'The only vision he's really presented is: 'We'll fix the problems the Conservatives left us.' But it's not clear how he wants to change the country,' he told Times Radio. Sir Keir has acknowledged the 'challenge' of 'getting our story across'. 'If I was to list to you all the things we've done, it's a big long list of things. [But] how do we tell the story of what we've done? How do we make sure it's actually felt by working people?' he said in an interview with The Times. He also said he took 'ownership' of all decisions made by his Government, and that he did not get to grips with the growing rebellion over welfare reforms earlier as he was focused on international affairs. Although that rebellion was eventually reduced from 126 MPs to just 49, it required extensive concessions and marked the biggest revolt of his premiership so far, just days before he celebrated his first year in office. He has played a balancing act on the world stage, strengthening ties with the EU while courting US President Donald Trump, who he wooed with an invitation for a second state visit to the UK when they met in the White House. The football-loving Prime Minister lists a 'hat-trick' of deals – an EU 'reset', a deal with India, and an agreement for relief from Mr Trump's tariffs which has been partially implemented – among his key achievements. He also touts his commitment to get defence spending up to 2.5% of GDP by 2027 – and the new Nato defence and security spending pledge of 5% of GDP by 2035. At home, he is battling the rise of Reform UK. A YouGov megapoll released last week said a general election now could see Reform UK taking more seats than Labour, while the latest Ipsos poll puts Nigel Farage's party at 34% with Labour behind at 25%. Sir Keir framed Reform UK as Labour's main opposition at a press conference in May, saying the Conservative Party has 'run out of road'. It came after Reform UK hoovered up council seats across England in local elections, as well as gaining a seat previously held by Labour in the Runcorn and Helsby by-election. An immigration speech in which the Prime Minister said the UK could become an 'island of strangers' drew criticism and comparisons with Enoch Powell's infamous 'rivers of blood' address that was blamed for inflaming racial tensions in the 1960s. Sir Keir has since expressed regret at the phrasing. But he reportedly plans to target 'authoritarian-leaning' voters with a focus on tackling migration and crime. In recent polling by LabourList of members, 64% said they wanted the party to shift to the left, with only around 2% favouring a move to the right. The next test at the polls will be Welsh and Scottish elections in May, at which Reform UK hopes to end Labour's 26-year domination in the Senedd next year. Sir Keir again took aim at the party in a speech to the Welsh Labour conference last weekend, saying Mr Farage has 'no plan at all' for the nation. Political historian Sir Anthony Seldon has praised Sir Keir's ability to react to crises in foreign policy and during the riots last summer, but urged him to counter Reform UK by communicating 'growth' and 'optimism'. 'Show people that you're Prime Minister, show people you've got a story, show people things are getting better across the whole country with growth and then, you know, that will deal with Reform,' he told Sky News. Sir Keir has pledged to lead a 'decade of national renewal' and said that the first year of that has been 'cleaning up that mess' his Government inherited. In a signal he is seeking to put a positive spin on the future, he told business leaders last week: 'We've wiped the state clean, we've stabilised the economy, and now we can go on to the next phase of government, building on that foundation.'
Rhyl Journal
32 minutes ago
- Rhyl Journal
Keir's first year: Starmer under pressure after a rocky start for Labour
Labour swept back into Downing Street with more than 400 MPs on July 4 last year – clinching a majority just short of Tony Blair's landslide in 1997. A year later, polling expert Professor Sir John Curtice is calling it 'the worst start for any newly elected prime minister'. Sir Keir was accused of setting a gloomy tone at the outset, telling the public that 'things will get worse before they get better' and warning of 'tough choices' and a 'black hole' left in the finances by his predecessors. Soon after, a plan was unveiled to cut back winter fuel payments for pensioners, only for an enduring backlash to see the Government U-turn and widen eligibility months later. This and the recent climbdown over plans for welfare cuts to stave off a backbench rebellion have raised the prospect of further tax rises in the autumn budget as the Chancellor seeks to balance the books. It has also raised the prospect of rebellious MPs being emboldened to continue pushing back on future policy, putting Sir Keir's plans at risk. When it comes to whether voters like him, Sir John has argued that the Government has a 'lack of direction' and that the Prime Minister was 'never especially popular' and that 'the public still don't know what he stands for.' 'The only vision he's really presented is: 'We'll fix the problems the Conservatives left us.' But it's not clear how he wants to change the country,' he told Times Radio. Sir Keir has acknowledged the 'challenge' of 'getting our story across'. 'If I was to list to you all the things we've done, it's a big long list of things. [But] how do we tell the story of what we've done? How do we make sure it's actually felt by working people?' he said in an interview with The Times. He also said he took 'ownership' of all decisions made by his Government, and that he did not get to grips with the growing rebellion over welfare reforms earlier as he was focused on international affairs. Although that rebellion was eventually reduced from 126 MPs to just 49, it required extensive concessions and marked the biggest revolt of his premiership so far, just days before he celebrated his first year in office. He has played a balancing act on the world stage, strengthening ties with the EU while courting US President Donald Trump, who he wooed with an invitation for a second state visit to the UK when they met in the White House. The football-loving Prime Minister lists a 'hat-trick' of deals – an EU 'reset', a deal with India, and an agreement for relief from Mr Trump's tariffs which has been partially implemented – among his key achievements. He also touts his commitment to get defence spending up to 2.5% of GDP by 2027 – and the new Nato defence and security spending pledge of 5% of GDP by 2035. At home, he is battling the rise of Reform UK. A YouGov megapoll released last week said a general election now could see Reform UK taking more seats than Labour, while the latest Ipsos poll puts Nigel Farage's party at 34% with Labour behind at 25%. Sir Keir framed Reform UK as Labour's main opposition at a press conference in May, saying the Conservative Party has 'run out of road'. It came after Reform UK hoovered up council seats across England in local elections, as well as gaining a seat previously held by Labour in the Runcorn and Helsby by-election. An immigration speech in which the Prime Minister said the UK could become an 'island of strangers' drew criticism and comparisons with Enoch Powell's infamous 'rivers of blood' address that was blamed for inflaming racial tensions in the 1960s. 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'Show people that you're Prime Minister, show people you've got a story, show people things are getting better across the whole country with growth and then, you know, that will deal with Reform,' he told Sky News. Sir Keir has pledged to lead a 'decade of national renewal' and said that the first year of that has been 'cleaning up that mess' his Government inherited. In a signal he is seeking to put a positive spin on the future, he told business leaders last week: 'We've wiped the state clean, we've stabilised the economy, and now we can go on to the next phase of government, building on that foundation.'
The Guardian
32 minutes ago
- The Guardian
‘A billion people backing you': China transfixed as Musk turns against Trump
Few break-ups have as many gossiping observers as the fallout between the once inseparable Donald Trump and Elon Musk. The ill-fated bromance between the US president and the world's richest man, which once raised questions about American oligarchy, is now being pored over by social media users in China, many of whom are Team Musk. The latest drama comes from Musk's pledge to found a new political party, the America party, if Trump's sweeping tax and spending bill, which Musk described as 'insane' passed the Senate this week (it did). Musk had already vowed to unseat lawmakers who backed Trump's flagship piece of legislation, which is expected to increase US national debt by $3.3tn. On Wednesday, hours after the bill passed the US Senate, the hashtag #MuskWantsToBuildAnAmericaParty went viral on Weibo, a Chinese social media platform similar to Musk's X, receiving more than 37m views. 'If Elon Musk were to found a political party, his tech-driven mindset could inject fresh energy into politics. The potential for change is significant – and worth watching,' wrote one Weibo user. 'When you've had enough, there's no need to keep putting up with it,' wrote another. One comment summed up the mood on the platform: 'Brother Musk, you've got over a billion people on our side backing you.' Musk, the CEO of Tesla and SpaceX, is widely venerated in China for his business acumen and technological achievements. Tesla's electric vehicles are the only western brand on Chinese roads that can rival domestic firms, and the company's biggest factory by volume is in Shanghai. Musk is known to have a close relationship with China's premier, Li Qiang, while Musk's mother, Maye Musk, is a social media celebrity in her own right in China. Musk's popularity in China follows a well-established trend of Chinese audiences enthusiastically embracing US tech innovators. Walter Isaacson's biography of Steve Jobs was a bestseller in China, as was his biography of Musk. Trump, however, is seen by many as being an unpredictable funnyman who has launched the most aggressive trade war on China in recent history. Some internet users commented that Trump and Musk should grow up. 'These two grown men argue nonstop over the smallest things – and the whole world ends up knowing about it,' wrote one user, while another joked: 'Every day, Musk is basically live-streaming 'How Billionaires Argue''. The conversation has been allowed to flourish on China's tightly controlled social media, suggesting that at least some censors are betting that the US political chaos could be no bad thing for China. Additional research by Lillian Yang
