Elon Musk’s messy breakup with President Trump has exposed some uncomfortable truths about the billionaire entrepreneur, prompting some investors, like Puru Saxena of AlphaTarget, to publicly distance themselves from Musk’s companies.
“Elon Musk knew that President Trump was in the Epstein Files and he kept quiet until today,” AlphaTarget’s Saxena wrote on social media, referring to Musk’s comments on why Trump allegedly blocked the release of the Epstein list.
“[T]his raises serious questions about Musk’s ethics and integrity,” he added. “For this reason, we’ve sold all our TSLA shares and will not invest in his companies again,” Saxena continued. “Integrity > money.”
Elon Musk knew that President Trump was in the Epstein Files and he kept quiet until today -- this raises serious questions about Musk's ethics and integrity.
undefined Puru Saxena (@saxena_puru) June 5, 2025
For this reason, we've sold all our $TSLA shares and will not invest in his companies again.
Integrity > money.
Ironically, the controversy over Musk’s ethics didn’t appear to hurt Tesla’s stock. Shares surged more than 6% on Friday and have now rebounded nearly 40% from their April low.
Musk, who previously supported Trump during the election and even served in his administration as head of the Department of Government Efficiency, broke ties over the “Big, Beautiful Bill,” a sweeping tax-and-spending package that critics say will massively inflate the national deficit over the next decade.
Musk called Trump’s bill a “disgusting abomination.” “Shame on those who voted for it: you know you did wrong. You know it,” he said.
Big, beautiful bill advances to the Senate
Despite Musk’s opposition, the “Big Beautiful Bill” narrowly passed the House of Representatives in May and is now under review in the GOP-controlled Senate.
The bill proposes sweeping tax cuts, reductions in Medicare spending, and increased military funding. It has sparked pushback from some Republican lawmakers who share Musk’s concerns about its long-term impact on the federal budget.
Senators Rand Paul of Kentucky and Ron Johnson of Wisconsin are leading efforts to block the bill.
Johnson said he can’t treat growing deficits as “the new normal” in American politics, adding that there’s virtually no chance the bill will pass in its current form before President Trump’s self-imposed July 4 deadline.
“The sooner President Trump recognizes the reality of the situation, the sooner we can work on a smaller version of the bill, do the things that have to be done,” Johnson said.
According to the latest Congressional Budget Office (CBO) estimate, the bill could add $2.4 trillion to the deficit over the next decade. It could also leave nearly 11 million Americans without health insurance due to major changes to Medicaid.
The White House clapped back at the CBO’s forecast, claiming the nonpartisan organization keeps an “artificial baseline” that does not factor in the tax cuts from Trump’s first presidential term.
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