Let’s take a step back. Starting last week, Musk expressed increasing outrage over the Big Beautiful Bill that ended the EV tax credits. Trump, uncharacteristically discreet, did not reply. This might be due to Musk’s unfulfilled pledge to donate $100 million to a Trump-affiliated PAC. This morning, Trump expressed his disappointment with Musk, declaring that he “knew this bill better than anyone.”

“Elon and I had a great relationship. I don’t know if we will anymore,” Trump added.

Trump’s comments had barely concluded when Musk took to X, his social media platform, to refute the claim stating, “False, 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!” He further remarked that without his support, “Trump would have lost the election.”

Musk also unfollowed Stephen Miller on X, as well as the pundit Charlie Kirk. He retweeted old clips of himself saying that the federal deficit needed to come down, and put up a poll: “Is it time to create a new political party in America that actually represents the 80% in the middle?” The poll is, as of this writing, pinned to Musk’s profile. “Yes” is in the lead with 83 percent of the votes.

Now, both of these men are excellent at commanding attention, and this is a reality-TV squabble playing out on social media. It is also deeply petty. But a government contractor, one whose business empire is extremely dependent on federal contracts, posting about the deficit is serving up a nice volley. Trump spiked it.

“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 Truth Social. “I was always surprised Biden didn’t do it.” Trump also said he’d asked Musk to leave government, and Musk “just went CRAZY!”

I would question the use of “went” in that sentence but sure. That’s a pretty actionable threat. (Also jawboning, though at this point who’s keeping track?) It would probably fuck up what’s left of NASA in a pretty significant way, but whatever.

Musk responded, “Go ahead, make my day.” Then, he posted, “Time to drop the really big bomb: @realDonaldTrump is in the Epstein files. That is the real reason they have not been made public.” Musk has also dined with Epstein, and has been subpoenaed for documents in an Epstein-related lawsuit.

Then, just after the market closed, Musk posted, “In light of the President’s statement about cancellation of my government contracts, @SpaceX will begin decommissioning its Dragon spacecraft immediately.” The SpaceX Dragon is used to fly cargo and crew to the International Space Station.

Who’s winning? Well, Tesla stock declined 14 percent today, closing at $284.70. Trump can hurt Musk imminently, and not just with the spending bill. Musk, The Washington Post reported, began his career in the US by working here illegally. That could potentially complicate his naturalization and create grounds for the Trump government to strip him of his citizenship, and possibly even deport him back to South Africa. Would that be legal? It seems pretty clear that ICE doesn’t care.

Musk, on the other hand, hasn’t sent that $100 million check, and may choose not to after this contretemps. He also has enough money to fund primary challenges all over the country, as well as engage in aggressive lobbying against the bill — or any future pet Trump project. If SpaceX contracts are canceled, that may strand some military satellites, too.

As if that isn’t enough, the two of them have been thick as thieves for at least a year now. The current beef involves a lot of public information. (Trump was known to be pals with Epstein; Musk’s allegation that it’s why the files weren’t released is new.) I wonder what kind of dirt they have on each other from spending all that time together, and I wonder how much destruction that information could wreak.

Meanwhile, Democrats on the House Oversight Committee are attempting to subpoena Musk. Nancy Mace (R-SC) suspended the hearing to give Republicans time to arrive and vote against the subpoena. Should Trump demand it, it’s easy to imagine another vote happening — one that hauls Musk in front of Congress.

Also, an alleged member of Musk’s coterie of baby mamas has chosen to weigh in on Twitter. Ashley St. Clair, who is currently engaged in a paternity suit with Musk, wrote on X, “hey @realDonaldTrump lmk if u need any breakup advice.”

May is over, but it seems the meltdowns are just beginning. Right now, we’re watching two men with leverage over each other fight with vague threats and public information. But that fight just keeps escalating, and the stakes could not be higher.

Updated 4:15PM ET June 5th: Adds Musk post about decommissioning the Dragon spacecraft.