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,” 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,” 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.
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,” 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,” 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.
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.
Bullion, Billions, and the Blockchain: Tether Scores $5B From Gold Rally
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights