Tesla Inc. shares reportedly tumbled by over 14 per cent on Thursday, as the public feud between Elon Musk, the company’s chief executive officer (CEO), and President Donald Trump rattled investors.
The development was said to have resulted in a $150 billion loss in the car maker’s market value.
Musk, who previously led the Department of Government Efficiency (DOGE), described a Republican-backed tax bill as a “disgusting abomination” and claimed that Trump’s earlier presidential victory was partly due to his support.