Tesla, Elon Musk and Net Worth Drop
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ICYMI: President Donald Trump’s “Liberation Day” tariffs delayed until August 1. The U.S. Department of Defense secured a rare earth deal with MP Materials to boost domestic production. Elon Musk’s “America Party” announcement sparks a $68 billion Tesla selloff.
Tesla shares tumbled after CEO Elon Musk announced that he plans to start a new political party, reigniting concerns that his attention will turn away from running the EV maker and that a public feud with President Trump will escalate.