Musk Blinks First in Trump Feud That Cost Him $34 Billion

When Elon Musk and Donald Trump joined forces during the presidential campaign, there was always a question over how long their alliance would last and who would prevail if it didn’t work out.

After the public spat between the world’s richest man and its most-powerful leader spun out of control on Thursday, the answer was clear: It was Musk who eventually backed down when Tesla Inc.’s stock price tanked and his net worth crumbled by $34 billion. The damage to Musk’s business empire will be difficult to repair — with Tesla’s stock up only about 4% soon after the market’s open, recouping just some of its previous day’s slide.