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Elon Musk’s stock plummets among Republicans

6 17
06.06.2025

Elon Musk’s stock among House Republicans is sinking as the tech billionaire’s crusade against the party’s “big, beautiful bill” — and President Trump himself — boils over.

Republicans are broadly brushing off the billionaire's campaign against the legislation, saying it will not have much, if any, impact on the bill's chances of passing through Congress. Musk's call for his followers to lobby members against the measure isn't blowing up phone lines on Capitol Hill. And despite Musk — the richest man in the world — spending a quarter of a billion dollars to boost the party in 2024, lawmakers are utterly unconcerned about the possibility of the tech mogul opting out of the midterms, or working against them.

Instead, House Republicans are publicly criticizing Musk for how he has approached his political fight against the megabill and personal battle against Trump — and openly saying that Musk’s influence with Republicans is plunging just about as fast as Tesla’s stock price did Thursday afternoon.

“I've had a lot of love and respect for you for what you've done for this country over the last several months, but you've lost your damn mind,” Rep. Troy Nehls (R-Texas), a close Trump ally, told reporters of Musk. “You've lost your mind. Enough is enough, stop this. I don't think it's healthy.”

“Every tweet that goes out, people are more lockstep behind President Trump, and he’s losing favor,” Rep. Kevin Hern (R-Okla.) said of Musk’s influence with Republican lawmakers.

Rep. Jeff Van Drew (R-N.J.) said that the episode “diminishes” Musk’s standing with Republicans.

“He's extremely bright, my God. I mean — SpaceX, Tesla, all that stuff. However, I never saw that he had his finger on the pulse of America and what the American man and woman is thinking,”........

© The Hill