From ‘Epstein files’ to ‘new political party’: How Musk is targeting Trump over tax bill

As the rift between billionaire Elon Musk and US President Donald Trump grows wider, the Tesla CEO said on Thursday (Jun 5) that the Republican is in the Epstein files, claiming that this is why they are not being released.

In an X post, Musk wrote, “Time to drop the really big bomb: DonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!”

“Mark this post for the future. The truth will come out,” he added.

Musk also responded to a post that claimed, “In 1992 Trump partied with Jeffrey Epstein.”

Responding to a post on social media that said whether Trump should be impeached and JD Vance should replace him, Musk said: “Yes.”

Earlier, he also said, “Is it time to create a new political party in America that actually represents the 80% in the middle?”

Talking on tariffs, the billionaire said that the trade duties imposed by Trump would result in a recession.

“The Trump tariffs will cause a recession in the second half of this year,” he wrote on X.

As the war of words continues on social media, Trump wrote, “I don’t mind Elon turning against me, but he should have done so months ago. This is one of the Greatest Bills ever presented to Congress. It’s a Record Cut in Expenses, $1.6 Trillion Dollars, and the Biggest Tax Cut ever given. If this Bill doesn’t pass, there will be a 68% Tax Increase, and things far worse than that. I didn’t create this mess, I’m just here to FIX IT. This puts our Country on a Path of Greatness. MAKE AMERICA GREAT AGAIN!”

Musk says SpaceX will begin decommissioning its Dragon spacecraft

Responding to Trump's threats that he would terminate the Tesla CEO’s government subsidies and contracts, Musk said, “In light of the President’s statement about cancellation of my government contracts, SpaceX will begin decommissioning its Dragon spacecraft immediately.”

Trump earlier said, “The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts. I was always surprised that Biden didn’t do it!”

Meanwhile, Tesla shares plummeted more than 15 per cent on Thursday, recording a loss of over $100 billion in market capitalisation.