Trump faces potential loss of $100 million in donations from Musk

A political feud between President Donald Trump and Elon Musk has jeopardised a promised $100 million donation from the tech billionaire to groups aligned with the president ahead of the 2026 midterm elections.

Musk, who spent roughly $275 million supporting Trump’s 2024 campaign, had pledged an additional nine-figure sum to help bolster Trump’s political network. But that contribution is now uncertain after the two men exchanged insults and threats on their respective social media platforms, Caliber.Az quotes The New York Times.

The fallout has unsettled a key dynamic shaping Trump’s second term. Beyond the financial implications, the president now faces the potential opposition of a former ally who holds significant influence in both media and tech.

Trump’s political advisers are reportedly preparing for a prolonged clash, with figures in Silicon Valley and Washington possibly forced to take sides. “It’s shaping into a drawn-out war,” said one person close to the president, speaking on condition of anonymity.

Musk’s companies, particularly SpaceX, have benefited from billions in government contracts and stood to gain more under the current administration. Trump is now threatening those financial streams. The tensions reached NASA, with the president abruptly dropping his support for a Musk associate nominated to lead the agency.

Meanwhile, Musk recently posted a poll on X asking users if he should start a new political party for centrist Americans — more than 80% of 4.6 million respondents voted yes.

The dispute began after Musk publicly criticised Trump’s signature domestic policy bill, calling it a “disgusting abomination.” Their online spat escalated on June 5 into personal jabs, including a disagreement over who deserved more credit for Trump’s election and a mocking reference to Musk’s recent black eye during an Oval Office appearance.

By Sabina Mammadli