The spectacular flameout Thursday peaked as Trump threatened to cut Musk’s government contracts and Musk claimed that Trump’s administration hasn’t released all the records related to sex abuser Jeffrey Epstein because Trump is mentioned in them.

The tech entrepreneur even shared a post on social media calling for Trump’s impeachment and skewered the president’s signature tariffs, predicting a recession this year.

The messy blow-up between the president of the United States and the world’s richest man played out on their respective social media platforms after Trump was asked during a White House meeting with Germany’s new leader about Musk’s criticism of his spending bill.

Trump had largely remained silent as Musk stewed over the last few days on his social media platform X, condemning the president’s so-called “Big Beautiful Bill.” But Trump clapped back Thursday in the Oval Office, saying he was “very disappointed in Musk.”

Musk responded on social media in real time. Trump, who was supposed to be spending Thursday discussing an end to the Russia-Ukraine war with German Chancellor Friedrich Merz, ratcheted up the stakes when he turned to his own social media network, Truth Social, and threatened to use the U.S. government to hurt Musk’s bottom line by going after contracts held by his internet company Starlink and rocket company SpaceX.

“The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts,” Trump wrote on his social media network.

“Go ahead, make my day,” Musk quickly replied on X.

Hours later, Musk announced SpaceX would begin decommissioning the spacecraft it used to carry astronauts and cargo to the International Space Station for NASA.

Musk also said, without offering evidence of how he might know the information, that Trump was “in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!”

The deepening rift unfurled much like their relationship started — rapidly, intensely and very publicly. And it quickly hit Musk financially.

After Trump started criticizing Musk, shares of his electric vehicle company Tesla plunged more than 14%, knocking about $150 billion off Tesla’s market valuation. Musk lost about $20 billion on his personal holding of Tesla.

Politicians and their donor patrons rarely see eye to eye. But the magnitude of Musk’s support for Trump, spending at least $250 million backing his campaign, and the scope of free rein the president gave him to slash and delve into the government with the Department of Government Efficiency is eclipsed only by the speed of their falling-out.

Musk offered up an especially stinging insult to a president sensitive about his standing among voters: “Without me, Trump would have lost the election,” Musk retorted. “Such ingratitude,” Musk added in a follow-up post.

Musk first announced his support for Trump shortly after the then-candidate was nearly assassinated on stage at a Pennsylvania rally last July. News of Musk’s political action committee in support of Trump’s election came days later.

Musk soon became a close adviser and frequent companion, memorably leaping in the air behind Trump on stage at a rally in October. Once Trump was elected, the tech billionaire stood behind him as he took the oath of office, flew on Air Force One for weekend stays at Mar-a-Lago, slept in the Lincoln Bedroom and joined Cabinet meetings wearing a MAGA hat — sometimes more than one.

Three months ago, Trump purchased a red Tesla from Musk as a public show of support for his business as it faced blowback.

Musk bid farewell to Trump last week in a somewhat somber news conference in the Oval Office, where he sported a black eye that he said came from his young son but that seemed to be a metaphor for his messy time in government service.

Trump, who rarely misses an opportunity to zing his critics on appearance, brought it up Thursday.

“I said, ‘Do you want a little makeup? We’ll get you a little makeup.’ Which is interesting,” Trump said.

The Republican president’s comments came as Musk has griped for days on social media about Trump’s spending bill, warning that it will increase the federal deficit. Musk has called the bill a “disgusting abomination.”

“He hasn’t said bad about me personally, but I’m sure that will be next,” Trump said Thursday in the Oval Office, presaging the rest of his day. “But I’m very disappointed in Elon. I’ve helped Elon a lot.”

Observers had long wondered if the friendship between the two brash billionaires known for lobbing insults online would combust in dramatic fashion. It did, in less than a year.

White House aides were closely following the drama playing out on dueling platforms Thursday with bemusement, sharing the latest twists and turns from the feud between their boss and former co-worker, as well as the social media reaction and memes. Officials in the extremely online administration privately expressed the belief that like the other digital scuffles that have defined Trump’s political career, this would also work out in his favor.

Trump said Thursday in the Oval Office that he and Musk had had a great relationship but mused: “I don’t know if we will anymore.”

He said some people who leave his administration “miss it so badly” and “actually become hostile.”

“It’s sort of Trump derangement syndrome, I guess they call it,” he said.

He brushed aside the billionaire’s efforts to get him elected last year, including a $1 million-a-day voter sweepstakes in Pennsylvania. The surge of cash Musk showed he was willing to spend seemed to set him up as a highly coveted ally for Republicans going forward, but his split with Trump, the party’s leader, raises questions about whether they or any others will see such a campaign windfall in the future.

Trump said Musk “only developed a problem” with the bill because it rolls back tax credits for electric vehicles.

“False,” Musk fired back on his social media platform as the president continued speaking. “This bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it!”

In another post, he said Trump could keep the spending cuts but “ditch the MOUNTAIN of DISGUSTING PORK in the bill.”

Besides Musk being “disturbed” by the electric vehicle tax credits, Trump said another point of contention was Musk’s promotion of Jared Isaacman to run NASA. Trump withdrew Isaacman’s nomination over the weekend and on Thursday called him “totally a Democrat.”

Musk continued slinging his responses on social media. He shared some posts Trump made over a decade ago criticizing Republicans for their spending, musings made when he, too, was just a billionaire lobbing his thoughts on social media.

“Where is the man who wrote these words?” Musk wrote. “Was he replaced by a body double!?”

On the White House grounds Thursday afternoon, Trump’s red Tesla still sat in a parking lot.

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Associated Press writers Chris Megerian, Zeke Miller and Eric Tucker in Washington and Bernard Condon and Paul Harloff in New York contributed to this report.