Billionaire businessman Elon Musk stated on Wednesday that he regretted some of the posts he made last week concerning US President Donald Trump, acknowledging they had gone “too far.” This marks the latest indication of a potential reconciliation between the two prominent figures. Trump had declared on Saturday that his relationship with Musk was over after they exchanged insults on social media, with the Tesla and SpaceX CEO characterizing the president’s sweeping tax and spending bill as a “disgusting abomination.”
Musk has since deleted several posts critical of Trump, including one that signaled support for impeaching the president. Sources close to the world’s wealthiest man suggest that his anger has begun to dissipate and that he may be open to repairing the relationship. Company and market analysts posited that Musk’s shift in tone could reflect a desire to safeguard his various businesses.
“I regret some of my posts about President Donald Trump last week. They went too far,” Musk wrote in a post on his social media platform X on Wednesday. He did not specify which particular posts he was referring to. Following Musk’s post, Tesla shares saw a 2.3% rise in pre-market trading.
Mamta Valechha, a consumer discretionary analyst at Tesla investor Quilter Cheviot, remarked, “The conciliatory tone from Musk recently might indicate his desire to protect his businesses in the light of the position he has found himself in.” Matthew Britzman, an analyst at Hargreaves Lansdown and a Tesla shareholder, observed that both Musk and Trump appeared to have de-escalated the situation.
“It still feels unlikely that we’ll see these two giant personalities so closely intertwined again, but it’s in neither’s best interest to let the drama continue,” he commented. Shawn Campbell, an adviser and investor at Camelthorn Investments, suggested that while the relationship between Musk and Trump could be restored, it was improbable that it would revert to its previous state.
“The stakes between the richest man in the world and leader of the most powerful nation in the world are just so big, with billions of dollars of government contracts at stake, not to mention the power to investigate and regulate and tax,” stated Campbell, who personally holds Tesla shares.
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Musk significantly financed a large portion of Trump’s 2024 presidential campaign, spending nearly $300 million in last year’s US elections. He also claimed credit for Republicans retaining a majority of seats in the House and regaining a majority in the Senate. Subsequently, Trump appointed him to lead an initiative aimed at downsizing the federal workforce and cutting spending.
Musk resigned from this role late last month after publicly criticizing Trump’s signature tax bill, deeming it excessively expensive and a measure that would undermine his efforts at the Department of Government Efficiency. Declaring their relationship over on Saturday, Trump warned there would be “serious consequences” if Musk decided to fund US Democrats running against Republicans who voted for the tax and spending bill. Trump also explicitly stated his intention not to mend ties with Musk.
On Monday, however, Trump indicated that he would not have an issue if Musk were to call him and that he had no plans to discontinue the Starlink satellite internet services provided to the White House by Musk’s SpaceX, though he might move his Tesla vehicles off-site. “We had a good relationship, and I just wish him well,” Trump said. Musk responded to a video on X showcasing Trump’s remarks with a heart emoji.
Tesla shares have fully recovered the losses they incurred last Thursday during the public dispute between Trump and Musk, which saw over $150 billion wiped off the company’s market value.
