Tesla's shares experienced an increase following Elon Musk's suggestion to reconcile with President Trump, countering a previous decline due to their escalating feud. Musk acknowledged the call for peace via social media, which alleviated investor concerns tied to his relationship with Trump. The earlier tension stirred fears about the repercussions for Tesla, particularly with Trump's influence over government policies that affect the auto industry. The recent fallout displayed the dramatic shift in their political alliance, emphasizing the stakes for both Musk and Tesla in navigating their public interactions.
Investors had been spooked by the prospect of a falling out between Musk, who oversees a vast business empire, and Trump, whose government doles out billions to those companies.
The spectacle of the world's richest person and the leader of the free world lobbing insults toward one another on social media marked a stunning breakup of a once formidable political alliance.
Musk responded that Ackman was not wrong, acknowledging the need to make peace for the benefit of our great country.
Musk spent more than $250 million to help secure Trump's return to the White House, marking the complexity of their political alliance.
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