Musk calls Trump’s flagship spending bill a “disgusting abomination,” triggering backlash.
Tesla CEO’s criticism could threaten subsidies for EVs and Space contracts.
GOP leadership now scrambling to salvage Senate support amid Musk’s social media tirade.
Musk seems to have finally cut the cord. (Britta Pedersen-Pool/Getty Images)
Tesla’s CEO turns on Trump’s prized megabill, calling it pork-filled and
fiscally reckless. The fallout is already rippling through GOP ranks.
Musk vs. MAGA: The Billionaire Breaks Rank
In what can only be described as a high-octane political about-face,
Elon Musk has torched President Donald Trump’s prized legislative
package—publicly branding the so-called “One Big Beautiful Bill Act” a
“disgusting abomination.”
I’m sorry, but I just can’t stand it anymore.
This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.
Shame on those who voted for it: you know you did wrong. You know it.
“I’m sorry, but I just can’t stand it anymore,” Musk wrote on X (his
own platform, naturally). “This massive, outrageous, pork-filled Congressional
spending bill is a disgusting abomination. Shame on those who voted for it: you
know you did wrong. You know it.”
The tirade, posted just days after Musk
stepped down as head of the Department of Government Efficiency (DOGE),
sent a shockwave through both political and financial circles. It also marks
Musk’s most dramatic rupture yet with Trump—his erstwhile political ally, golf
buddy, and, until very recently, Oval Office patron.
Debt, Deficits, and Tesla’s Dollars
Why the sudden fury? Follow the money.
Elon Musk, doing a lot of "slamming" recently. (via Frederic J Brown/AFP via Getty Images)
Musk slammed the bill for bloating the federal deficit—forecasted to
hit $2.5 trillion—and for adding what he called “crushingly
unsustainable debt.” The bill also threatens Tesla’s interests directly: it
proposes slashing subsidies for electric vehicles and clean energy tech.
That’s no small change when you’re running the world’s biggest EV maker
and a space company (SpaceX) reliant on defense contracts. And Musk knows it.
In November next year, we fire all politicians who betrayed the American people https://t.co/GTRc9Rjled
“In November next year, we fire all politicians who betrayed the
American people,” Musk warned in another post—threatening Republican lawmakers
who dare back the bill.
Political Fallout: GOP Leaders Squirm
Republican leadership, already walking a tightrope to pass the bill in
the Senate, now faces a Musk-shaped headache.
Senate Majority Leader John Thune (R-S.D.) insisted the bill would
ultimately spur economic growth, but admitted Musk’s criticism “makes
leadership’s job that much harder.”
Meanwhile, libertarian stalwarts like Sen. Rand Paul (R-Ky.) and Sen.
Mike Lee (R-Utah) gleefully echoed Musk’s outrage. Paul posted: “We can and
must do better.” Lee added that “federal spending has become excessive.”
Even some House Republicans who helped push the bill through were
blindsided. “Very
disappointing,” grumbled House Speaker Mike Johnson. “And very surprising
in light of the conversation I had with him.”
Translation: Musk was supposed to play nice. Now he’s lighting matches.
Markets Watching, Tesla at Risk
For traders and investors, Musk’s tantrum could have tangible
consequences.
Tesla shares wobbled slightly as news of the clash broke—investors wary
of how the spending cuts could hit EV incentives. And with SpaceX holding major
defense contracts, any deterioration in Musk’s rapport with Trump could also
ripple through that side of his empire.
GOP insiders privately acknowledge that Musk’s influence—while not
equal to Trump’s—is nontrivial. He pumped at least $250-300 million into
Trump’s last campaign and various down-ballot races. Now, that financial spigot
may be in question.
🇺🇸The One, Big, Beautiful Bill "is arguably the most significant piece of Legislation that will ever be signed in the History of our Country!" Great job by Speaker Mike Johnson, and the House Leadership, and thank you to every Republican who voted YES on this Historic Bill!" pic.twitter.com/4e22PHtlxl
Wall Street and Silicon Valley are left trying to read the tea leaves.
Will Tesla subsidies survive? Will Musk really pull GOP funding? Will Senate
Republicans break ranks?
One thing’s clear: when the world’s richest man and the world’s loudest
president go to war over money, markets should pay attention.
Strap in. The abomination circus has just begun.
For more news around the edges of finance, visit our Trending pages.
Tesla’s CEO turns on Trump’s prized megabill, calling it pork-filled and
fiscally reckless. The fallout is already rippling through GOP ranks.
Musk vs. MAGA: The Billionaire Breaks Rank
In what can only be described as a high-octane political about-face,
Elon Musk has torched President Donald Trump’s prized legislative
package—publicly branding the so-called “One Big Beautiful Bill Act” a
“disgusting abomination.”
I’m sorry, but I just can’t stand it anymore.
This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.
Shame on those who voted for it: you know you did wrong. You know it.
“I’m sorry, but I just can’t stand it anymore,” Musk wrote on X (his
own platform, naturally). “This massive, outrageous, pork-filled Congressional
spending bill is a disgusting abomination. Shame on those who voted for it: you
know you did wrong. You know it.”
The tirade, posted just days after Musk
stepped down as head of the Department of Government Efficiency (DOGE),
sent a shockwave through both political and financial circles. It also marks
Musk’s most dramatic rupture yet with Trump—his erstwhile political ally, golf
buddy, and, until very recently, Oval Office patron.
Debt, Deficits, and Tesla’s Dollars
Why the sudden fury? Follow the money.
Elon Musk, doing a lot of "slamming" recently. (via Frederic J Brown/AFP via Getty Images)
Musk slammed the bill for bloating the federal deficit—forecasted to
hit $2.5 trillion—and for adding what he called “crushingly
unsustainable debt.” The bill also threatens Tesla’s interests directly: it
proposes slashing subsidies for electric vehicles and clean energy tech.
That’s no small change when you’re running the world’s biggest EV maker
and a space company (SpaceX) reliant on defense contracts. And Musk knows it.
In November next year, we fire all politicians who betrayed the American people https://t.co/GTRc9Rjled
“In November next year, we fire all politicians who betrayed the
American people,” Musk warned in another post—threatening Republican lawmakers
who dare back the bill.
Political Fallout: GOP Leaders Squirm
Republican leadership, already walking a tightrope to pass the bill in
the Senate, now faces a Musk-shaped headache.
Senate Majority Leader John Thune (R-S.D.) insisted the bill would
ultimately spur economic growth, but admitted Musk’s criticism “makes
leadership’s job that much harder.”
Meanwhile, libertarian stalwarts like Sen. Rand Paul (R-Ky.) and Sen.
Mike Lee (R-Utah) gleefully echoed Musk’s outrage. Paul posted: “We can and
must do better.” Lee added that “federal spending has become excessive.”
Even some House Republicans who helped push the bill through were
blindsided. “Very
disappointing,” grumbled House Speaker Mike Johnson. “And very surprising
in light of the conversation I had with him.”
Translation: Musk was supposed to play nice. Now he’s lighting matches.
Markets Watching, Tesla at Risk
For traders and investors, Musk’s tantrum could have tangible
consequences.
Tesla shares wobbled slightly as news of the clash broke—investors wary
of how the spending cuts could hit EV incentives. And with SpaceX holding major
defense contracts, any deterioration in Musk’s rapport with Trump could also
ripple through that side of his empire.
GOP insiders privately acknowledge that Musk’s influence—while not
equal to Trump’s—is nontrivial. He pumped at least $250-300 million into
Trump’s last campaign and various down-ballot races. Now, that financial spigot
may be in question.
🇺🇸The One, Big, Beautiful Bill "is arguably the most significant piece of Legislation that will ever be signed in the History of our Country!" Great job by Speaker Mike Johnson, and the House Leadership, and thank you to every Republican who voted YES on this Historic Bill!" pic.twitter.com/4e22PHtlxl
Wall Street and Silicon Valley are left trying to read the tea leaves.
Will Tesla subsidies survive? Will Musk really pull GOP funding? Will Senate
Republicans break ranks?
One thing’s clear: when the world’s richest man and the world’s loudest
president go to war over money, markets should pay attention.
Strap in. The abomination circus has just begun.
For more news around the edges of finance, visit our Trending pages.
Louis Parks has lived and worked in and around the Middle East for much of his professional career. He writes about the meeting of the tech and finance worlds.
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Today’s Tuesday, the 9th of June 2026, and these are our main stories: eToro’s customer assets climbed back above $20 billion, Prop trading model in prediction markets, and Leverate launched a new AI assistant for brokers and traders.
Today’s Tuesday, the 9th of June 2026, and these are our main stories: eToro’s customer assets climbed back above $20 billion, Prop trading model in prediction markets, and Leverate launched a new AI assistant for brokers and traders.
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War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The Engine and the Fuel: How AI & Data Drives African Future
The Engine and the Fuel: How AI & Data Drives African Future
The Engine and the Fuel: How AI & Data Drives African Future
The Engine and the Fuel: How AI & Data Drives African Future
The Engine and the Fuel: How AI & Data Drives African Future
The Engine and the Fuel: How AI & Data Drives African Future
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
Inside My Best Trade with Jimmy Moyaha
Inside My Best Trade with Jimmy Moyaha
Inside My Best Trade with Jimmy Moyaha
Inside My Best Trade with Jimmy Moyaha
Inside My Best Trade with Jimmy Moyaha
Inside My Best Trade with Jimmy Moyaha
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
