Elon Musk and President Donald Trump, the man the Tesla boss claims he got elected, fell out in spectacular – and very public – style on Thursday.
A break-up of the billionaire bromance appeared to be on the cards since Tuesday, after Mr Musk said the Republican President's signature “big, beautiful” tax bill was a “disgusting abomination” that would blow up the national debt.
Mr Trump hit back on Thursday, saying in the Oval Office that he was “disappointed” in Mr Musk, who as recently as February said he loves the President “as much as a straight man can love another man".
Mr Musk had donated about $300 million to Mr Trump and other Republicans in the run-up to the November election.
Mr Trump claims that the SpaceX and Tesla chief executive was embittered by the tax bill because it eliminates an electric vehicle subsidy that Republicans saw as unfairly propping up the EV industry at the expense of petrol-powered cars.
He posted a message on Truth Social saying Mr Musk had gone “crazy” and that he had been wearing out his welcome at the White House before his departure last week. Mr Musk left Washington after an unusual Oval Office appearance in which he sported a black eye and responded to a question about his alleged drug use.
President Donald Trump posted this on Truth Social on June 5, 2025.
The world's richest man responded in brutal fashion in a series of posts on X, saying Mr Trump had lied, claiming he did not even support EV tax subsidies, and saying the President would have lost the election were it not for his financial backing.
In the Oval Office, Mr Trump also suggested that Mr Musk was upset with him because he had withdrawn the nomination of Jared Isaacman, a billionaire friend of Mr Musk, to lead Nasa, because he is a Democrat.
Mr Musk posted messages about what he regards as America's unsustainable debt, claiming the world's richest nation is headed towards bankruptcy.
But perhaps the most damaging post from Mr Musk was one in which he claimed Mr Trump is named in the Epstein files, and that is why he had not released them.
The files, which have not been fully made public, concern the late sex offender Jeffrey Epstein and have long been the subject of speculation by Trump supporters who have demanded their full release.
Inclusion in the files does not necessarily imply wrongdoing by any of those named.
Mr Musk then went on to post a poll asking if it is time to create a new political party that represents the majority of Americans.
Shares in Mr Musk's Tesla dropped by as much as 15 per cent as the spat played out.
Mr Trump raised the prospect of further financial damage to Mr Musk by saying he could save America billions of dollars by ending government contracts to his companies.
Mr Musk responded by saying SpaceX would immediately start to decommission its Dragon spacecraft.
Nasa relies on SpaceX's Dragon spacecraft to take astronauts to and from the International Space Station under a contract worth about $4.9 billion, Reuters reported. The capsule is the only US spacecraft capable of flying humans in orbit.
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
Countries offering golden visas
UK Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
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The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11 What time: Each day’s play is scheduled to start at 2pm UAE time. TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
