Tesla shares recover as Elon Musk issues public apology to President Trump

Elon Musk, CEO of Tesla and SpaceX, has today issued a public apology to President Donald Trump. Posting on his X handle (@elonmusk), Musk expressed regret for his recent critical remarks about the U.S. President. 

The statement, which has so far reached over 208 million followers, read, “I regret some of my posts about President @realDonaldTrump last week. They went too far.”

This olive branch comes amid a high-profile feud that saw Tesla shares plunge and recover, reflecting the volatile intersection of Musk’s business empire and his political commentary.

The apology follows a bitter exchange that began last week, when Elon Musk accused Donald Trump of being linked to Jeffrey Epstein and called for his impeachment over fiscal policies, including the “One Big Beautiful Bill Bill. ” Trump retaliated by threatening to cut government subsidies and contracts for Tesla and SpaceX, both key beneficiaries of federal support.

The spat reportedly erased $152 billion from Tesla’s market value, with shares dropping 14.2% in a single day. Musk’s posts, including a 1992 video of Trump with Epstein and claims of sealed Epstein files naming the president, intensified the rift, prompting an 8% decline in Trump Media & Technology Group’s stock and a 12% drop in the $Trump meme cryptocurrency.

Read also: Trump’s Epstein ties resurface as Elon Musk fuels conspiracy on X

The feud marked a dramatic turn from their prior alliance, with Musk donating $275 million to Trump’s 2024 campaign and leading the Department of Government Efficiency (DOGE). Al Jazeera reported on June 6, 2025, that Musk’s Epstein allegations lacked evidence, fuelling speculation of ulterior motives, possibly tied to Tesla’s struggling sales and the upcoming robotaxi debut in Austin. 

Trump, during a White House meeting with German Chancellor Friedrich Merz, expressed disappointment, claiming Musk’s opposition stemmed from the elimination of electric vehicle subsidies.

Elon Musk’s apology sparks market recovery

Elon Musk’s apology, timed at 07:04 WAT on June 11, 2025, coincided with a market uptick, with Tesla shares rising 3.8% by midday trading, recovering some losses. Notably, Trump has signalled openness to reconciliation in a pre-recorded podcast of June 9, saying, “I have no hard feelings.” 

The development has eased investor concerns about potential government retaliation, though analysts remain cautious. Meanwhile, SpaceX’s critical role in NASA missions and Tesla’s reliance on federal contracts suggest the feud’s resolution could stabilise Musk’s empire.

The feud’s roots are traced to Musk’s exit from DOGE and his criticism of Trump’s tariffs and fiscal policies. Tesla’s 2025 struggles, including declining sales due to Musk’s far-right political stance, amplified the stakes, with short-sellers profiting billions, per the Wall Street Journal. Musk’s Epstein claim was unproven, with sealed files still under FBI review, adding fuel to the controversy. Trump’s threats to decommission SpaceX’s Dragon spacecraft and cut EV subsidies underscored the personal and business dimensions of the clash.

Read also: Elon Musk’s net worth dips by $27 billion amid ongoing feud with Donald Trump

Elon Musk’s apology may signal a strategic retreat to protect his companies, especially as Tesla prepares for its robotaxi unveiling, reliant on regulatory approval. The Independent reported West Wing aides had planned a reconciliatory call, though Trump initially resisted. The move also aligns with Musk’s history of polarising statements, from Twitter takeovers to Tesla factory controversies, often followed by public backtracking.

For now, the apology’s impact remains fluid. Tesla’s stock recovery suggests investor relief, but political and legal ramifications linger. The Epstein file debate, unaddressed in the apology, continues to stir public discussions.  For Trump, the gesture could pave the way for renewed collaboration, though his administration’s stance on Musk’s firms remains uncertain. This episode underscores the delicate balance Musk navigates between innovation, influence, and accountability in the global spotlight.