By Jayesh Shinde | Updated on 06-Jun-2025 HIGHLIGHTS Also read: Elon Musk in 2024: Top Tesla, SpaceX, AI and Neuralink highlights When X lit up with Musk’s condemnation of OBBBA, Tesla stock plunged 14 percent on June 5, wiping out roughly $150 billion in market cap. In a single session, investors fretted over the prospect of losing those credits, combined with broader uncertainty over Trump’s threat to strip Tesla of future incentives. The stakes ran deeper than subsidies. Tesla’s planned expansions in Republican-leaning states like Texas and Georgia relied on local and federal goodwill. Losing federal incentives could force price hikes, compress margins, and delay planned models like the long-promised Cybertruck. SpaceX and Starlink under siege Beyond Tesla, Elon Musk’s SpaceX, long held as a darling of NASA and the US Department of Defense, suddenly faced a cloud of political uncertainty. In 2024, SpaceX raked in $3.8 billion in federal grants for Starlink’s rural broadband rollout and Starship lunar development – programs Trump personally championed. But Musk’s public barbs against OBBBA prompted immediate concern within SpaceX’s ranks. Congressional aides and Pentagon officials began scrambling to evaluate if Trump cancelled those NASA or DoD contracts, would Starship’s Artemis IV missions slip months – or years – behind schedule? Would rural broadband subsidies vanish, shuttering Starlink-dependent communities? With doubts over SpaceX’s future projects, its competitors like OneWeb in the UK and Amazon’s Project Kuiper executives no doubt will sense this as an opportunity. If SpaceX lost its edge through political retribution, new bids for military payloads and government rural-connectivity grants would be imminent. X’s future as the global town square It has to be noted that all of Elon Musk’s fury erupted on X, the social-media platform he owns. By juxtaposing Trump’s past views on the platform with his current support for OBBBA, Elon Musk tried to undercut the president’s credibility.