“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,” said Mamta Valechha, consumer discretionary analyst at Tesla investor Quilter Cheviot.
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Tesla shareholder Matthew Britzman, an analyst at Hargreaves Lansdown, said 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 said.
Shawn Campbell, adviser and investor at Camelthorn Investments, said the relationship between Musk and Trump could be restored but also said it was unlikely it would return to where it once was. Trump last week threatened to terminate government contracts with Musk’s companies.
“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,” said Campbell, who personally holds Tesla shares.
Vance and White House chief of staff Susie Wiles spoke to Musk on Friday, one of the people briefed said. That same day, James Fishback, a Tesla investor and external DOGE adviser, posted on X that the billionaire owed Trump “a full-throated apology.”
Trump speaks with reporters in the Oval Office this week.Credit: AP
Musk retorted: “What’s the apology for exactly.”
But Musk subsequently deleted several posts, and a senior Trump adviser called Fishback to thank him, according to one of the sources.
Musk bankrolled a large part of Trump’s 2024 presidential campaign, spending nearly $US300 million ($460 million) in last year’s US elections and taking credit for Republicans retaining a majority of seats in the House and retaking a majority in the Senate.
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Trump then named him to head an effort to downsize the federal workforce and slash spending.
Musk left the role late last month after criticising Trump’s marquee tax bill, calling it too expensive and a measure that would undermine his work at the Department of Government Efficiency.
Declaring their relationship over on Saturday, Trump said there would be “serious consequences” if Musk decided to fund US Democrats running against Republicans who vote for the tax and spending bill. Trump also said he had no intention of repairing ties with Musk.
On Monday, Trump said he would not have a problem if Musk called and that he had no plans to discontinue the Starlink satellite internet provided to the White House by Musk’s SpaceX but might move his Tesla off-site.
“We had a good relationship, and I just wish him well,” Trump said. Musk responded with a heart emoji to a video on X showing Trump’s remarks.
Tesla shares have recouped all the losses they suffered during the public feuding between Trump and Musk last Thursday, when more than $US150 billion ($231 billion) was wiped off the company’s market value.
Reuters
