President Donald Trump Thursday launched a scathing attack on Elon Musk, declaring that the billionaire tech CEO has “lost his mind,” as tensions between the duo continue to mount in a public and politically charged feud.

The sharp remark followed Musk’s highly critical comments about Trump’s new legislative initiative, known as the “Big Beautiful Bill,” a sweeping tax and infrastructure proposal central to Trump’s political platform.

Musk publicly denounced the bill on X (formerly Twitter), calling it a “disgusting abomination” and urging lawmakers to reject it.

Trump fired back on his Truth Social platform, writing, “Elon Musk is a man who has completely lost his mind. He should focus on fixing Tesla before lecturing anyone on government spending.”

The post was quickly followed by a threat to reevaluate federal contracts with Musk’s companies, including Tesla and SpaceX, both of which receive billions in government support.

The feud escalated further when Musk appeared to reference Trump in a cryptic post about sealed court documents related to the late financier and sex offender Jeffrey Epstein.

Musk suggested that powerful individuals had been shielded from public scrutiny, writing, “Funny how some people scream about transparency while hiding in sealed files. What are they so afraid of?”

Though he did not name Trump directly, the implication was enough to trigger strong reactions from Trump allies, with some labeling Musk’s comments as “reckless” and “baseless.”

The financial consequences were immediate. Tesla’s stock plunged following Trump’s threat, wiping out more than $33 billion in market value and cutting billions from Musk’s net worth. Analysts linked the drop directly to investor fears over government retaliation and contract uncertainty.

On Capitol Hill, Republican lawmakers expressed concern that the feud could distract from pressing legislative goals and further fracture the party’s image ahead of the 2026 midterm elections. Some GOP leaders privately urged both men to de-escalate.

“I just hope this resolves quickly. We need to stay focused on our priorities, not personal conflicts,” said Sen. Marsha Blackburn (R-TN).

Despite reports that Musk is open to a private conversation with the former president, Trump has dismissed the idea of reconciliation.

“I’m not particularly interested in speaking with him. He’s gone off the rails. We have serious work to do for the American people,” he told Newsmax Thursday night.

The fallout has prompted wider concerns about the political risks of personality-driven conflicts involving key figures in both business and government. SpaceX plays a vital role in U.S. space and defense strategy, while Tesla is a leading force in the electric vehicle market.

As the feud continues to unfold, the clash between Trump and Musk has become more than a personal dispute. It’s a high-stakes confrontation that may shape the landscape of American politics and business well into the 2026 election cycle.