Political Wire
“Just a few months ago, investors were willing to massively increase the valuations of Elon Musk’s companies, in part because of his proximity to Donald Trump and the centers of Washington power. That ended yesterday,” Axios reports.
“Markets and private investors attributed literally hundreds of billions of dollars of value to the idea that Musk’s privileged access would flow to the success of Tesla, SpaceX, xAI and the like.”
“Investors will now potentially have to reprice a Musk empire at odds with Trump as opposed to at his side.”