Trump/Elon War Changes Everything

**Dave** (0:02)
Well, the bromance between Donald Trump and Elon Musk is over. In case you missed it, here are the highlights from the very public breakup that we all got to watch in real time yesterday. It all started during the live Q&A from the Oval Office, where Trump said that he was disappointed in Elon for coming out against the big, beautiful bill. He said that Elon knew the inner workings of the bill better than anyone and had no problem with it. But now all of a sudden, he has a problem with it, to which Elon posted on X saying, that's a lie, that he never even saw the bill and nobody in Congress even had time to read the bill because it was pushed out in the dead of the night. That quickly devolved from there into an insane back and forth ping-ponging between X and truth social. Elon said Trump would have lost the election without him. Trump said Elon was wearing thin and went crazy. Elon dropped his really big bomb saying that Trump is in the Epstein files. Trump fired back saying that the easiest way to save money in the budget is to terminate all of Elon's government contracts. Elon said, OK, SpaceX is going to decommission that dragon spacecraft immediately. Trump said, Elon's turning against me. Elon said Trump tariffs are going to cause a recession this year. Bottom line, Trump thinks the big beautiful bill is the greatest thing that Congress has ever seen. And Elon thinks Congress is spending America into bankruptcy. Now, all we have to do is figure out what this means for investors. Today on Dumb Money, how the Trump-Elon War changes everything. This is Dumb Money Live.
Hey there, Dave here along with Chris and Jordan. We are Dumb Money. Welcome to Dumb Money Live. Quick reminder to smash the like button, help us out with the almighty algorithm. Thumbs up if you're team Elon, of course, also thumbs up if you're team Trump. Basically smash the like button. I don't think the down thumb even works. Or the heart on X, or whatever your podcast you're listening to, just find a way to tell the algorithm that you like us. Chris, Jordan, I really got worked up about that. It was quite a day yesterday. Who would have ever predicted that the two billionaires of the world's biggest egos would not be BFFs for forever? Forever? Forever?

**Jordan** (2:07)
Everybody. The biggest prediction of 2025 is that somehow this partnership would end.

**Dave** (2:19)
We knew it. We just didn't know it was going to flame out this spectacularly in public for all of us to watch.

**Chris** (2:28)
I had to pull over my car, cancel a meeting, and just sit on X and watch the thing unfold while trying to mentally process how I should trade around it.

**Dave** (2:42)
You called me kind of early in the process, and I was like, yeah, I don't think it's going to escalate too much. And then I nearly fell out of my chair when the Epstein thing was tweeted on X.

**Chris** (3:02)
The Epstein thing was big.

**Jordan** (3:05)
That's when it got real. I thought that it was pretty mild until that.

**Dave** (3:11)
So I have a poll running on YouTube chat right now. Team Elon or Team Trump, 81% of our audience right now is Team Elon, 19% Team Trump. That subject to change throughout the course of today's discussion. But can we start at the beginning, because Elon had just wrapped up his side job working with Doge. He was back at Tesla. The stock was up 30% in the month leading up to that Oval Office Ceremony where Trump gave him the key to the Oval Office or the White House. I'm pretty sure he changed the locks yesterday. The very next day, after getting that key, Elon went all in trying to kill the bill, and in less than a week, Tesla stopped. The stock dropped like a rock.

**Chris** (3:56)
Well, Dave, step back even further than that. Elon, right, gave up a lot.

**Dave** (4:06)
Oh, yeah. Just reputationally, financially.

**Chris** (4:11)
This entire political kind of last eight months, Elon has been in a spiral, a death spiral basically. All of his companies were in the dumps because of this. The only thing that he benefited from was being aligned with the administration and having the tailwind of assistance from this administration in exchange for the hate and the loss of sales and the just emotional spiral of negativity surrounding him and his brands. And when Doge basically, let's be honest, essentially failed because of the big, beautiful bill, essentially rendering Doge useless.