Trump Gives Musk a Second Black Eye in Scorched Earth Attack

Donald Trump broke his silence over Elon Musk on Thursday in a dramatic intervention after the Tesla billionaire's frenzied attacks on the 'One Big Beautiful Bill.'
The president abruptly declared their bromance is all but over and suggested the former first buddy has 'Trump Derangement Syndrome.'
In a scorched earth tirade in the Oval Office, Trump suggested that the Tesla boss was bitter because his 'big beautiful bill' scrapped clean energy credits - which would impact Musk's electric vehicle business - and also because the president withdrew the NASA nomination of a Musk ally.
'Elon and I had a great relationship. I don't know if we will anymore,' Trump said.
'I'm very disappointed with Elon. I've helped him a lot. He knew the inner workings of the bill better than anybody sitting here. He had no problem with it. All of a sudden he had a problem and he only developed the problem when he found out we're going to cut the EV [Electric Vehicle] mandate.'
Musk responded in real time, declaring on X: '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 later added: 'Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate.'
'Such ingratitude.'
Trump's Oval Office rampage marks the end of the alliance between the world's richest man and its most powerful president, merely months after Musk spent almost $300 million to get Trump re-elected.
The brutal rebuke came after Musk delivered a blistering critique of Trump's sweeping domestic policy bill on Tuesday, describing it as a 'disgusting abomination' and condemning everyone who voted for it.
The former DOGE boss ramped up his attack against the bill on Wednesday, telling his 220 million-plus followers on X: 'Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL.'
This came after the Congressional Budget Office found that the Trump-backed bill would add $2.4 trillion to federal budget deficits over 10 years.
A few hours later, he called out Trump by name for the first time, re-posting a meme with a large yellow tractor that said 'Trump's big beautiful bill.'
In another sucker punch on Thursday, Trump also told reporters that he believes he could have won in Pennsylvania - the swing state that clinched his victory - even if Musk hadn't helped.
He then suggested that Musk had turned on him after he ended his official DOGE duties on Friday.
'People leave my administration, and they love us, and then at some point … some of them actually become hostile. I don't know what it is. It's sort of Trump derangement syndrome, I guess they call it," Trump said.
'They leave it and the glamour is gone, and the whole world is is different, and they become hostile. I don't know what it is.'
Musk fired back on X: 'Whatever.'
Musk's anger over the bill this week came after a tumultuous few months in which Musk upended the federal bureaucracy, watched his Tesla stocks plummet amid a public backlash and ultimately failed to deliver the $1 trillion in savings he claimed DOGE would achieve.
Trump had earlier praised him for his role during a joint press conference on Friday, even giving Musk a gold key - symbolic of a key to the White House.
'I'll continue to be visiting here and be a friend and adviser to the president,' Musk said, wearing a black T-shirt emblazoned with the words 'The Dogefather.'
'I hope so,' said Trump.

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Forbes

18 minutes ago

• Forbes

Icons Of Whiskey: Jacob Beam's Bourbon Dynasty

The Beam range of American whiskeys Photo, courtesy James B Beam Distilling Company Jacob Beam, the founder of what eventually became the James B. Beam Distilling Company, stands as a legendary figure in American whiskey history. His spirit of persistence and craftsmanship continues to shape the bourbon industry today. Now owned by Suntory Global Spirits, Jim Beam remains one of the most recognized names in whiskey worldwide. Below is a closer look at Jacob Beam, an Icon of Whiskey, and the distilling empire he built. Jacob Beam, founder of the Beam whiskey dynasty Photo, courtesy James B Beam Distilling Company Jacob Beam was born on February 9, 1760, to Nicolaus and Margaretha Boehm in Bucks County, Pennsylvania. The Boehms were German immigrants with deep farming roots who later anglicized their name to Beam. Growing up on the family farm, Jacob developed a strong work ethic and a keen understanding of farming—skills that would serve him well when he began making whiskey. In the 1780s, Jacob moved to Kentucky, settling near Hardin's Creek in what is now Hardin County. There, he set up a farm and a gristmill. Kentucky's fertile soil, plentiful corn, and easy access to the Ohio River made it a perfect place to distill whiskey. Jacob later moved to Bardstown, which was fast becoming a center for distilling—a reputation it still holds today. Although the Beam family lived in Bardstown, they never operated a distillery there. In 1854, the original distillery was relocated to nearby Nelson County, capitalizing on new railroad connections. After Prohibition, the distillery was rebuilt in Clermont, where it remains to this day. Jacob Beam began distilling whiskey in 1795. His early product—a corn-based whiskey—laid the groundwork for what would become bourbon. Initially, the whiskey was for local sale, but demand quickly grew as its quality was recognized. By the early 1800s, he was selling his whiskey as "Old Jake Beam Sour Mash." That brand would eventually evolve into the Jim Beam known today. Jacob Beam's Impact on Bourbon Jacob's success rested on careful craftsmanship. He blended corn, rye, and barley malt to produce whiskey that was smoother and sweeter than many local spirits of the time. That mash bill eventually became the template for bourbon. He aged it in charred oak barrels—a practice that would become standard for bourbon makers everywhere. His focus on refining recipes and scaling up production while maintaining high quality set the Beam family on a steady path to success. Some of Beam's Master Distillers over the company's history Photo, courtesy Jim Beam/Whiskey University Generations of Beam Distillers When Jacob Beam died in 1834, his son David Beam took over. David expanded operations and eventually handed the reins to his son, David B. Beam, who moved the distillery to Nelson County to benefit from rail shipping. That move helped Old Tub, a Beam whiskey, become one of the first nationally known bourbon brands. Eventually, David B. Beam's son, James Beauregard Beam—Jacob's great-grandson—rebranded the whiskey under his name, 'Jim Beam,' honoring the family legacy and ushering in a new era of recognition. When Prohibition struck in 1920, production halted, although limited sales of 'medicinal whiskey' were allowed to continue. Although the Beam distillery didn't have one of the original medicinal whiskey permits, the government later granted a license as supplies dwindled. Operating under the American Medicinal Spirits name, the Beam family continued limited production, preserving their whiskey-making know-how through the dry years. After Prohibition ended in 1933, James B. Beam rebuilt the distillery in Clermont, not far from his Bardstown home. By the 1940s, the brand had experienced rapid growth and established a global presence. In 1945, the company was acquired by Harry Blum, a Chicago-based spirits merchant. It was later sold, in 1967, to American Tobacco, which subsequently changed its name to American Brands in 1969 and later to Fortune Brands. In 1987, the Jim Beam acquired National Distillers, In 2011, Fortune Brands spun off its spirits business as a separate publicly traded company called Beam Inc. The company focused entirely on the whiskey and spirits portfolio, including Jim Beam, Maker's Mark, Knob Creek, and other brands. In 2014, Beam Inc. was acquired by Japan's Suntory Holdings for $16 billion—one of the biggest deals in spirits industry history. The company has had nine Master Distillers over its history: Jacob Beam (1795–1834), David Beam (1834–1854), David M. Beam (1854–1894), James B. Beam (1894–1947), T. Jeremiah Beam (1946–1977), Fred Booker Noe II 1960s–1992, Jerry Dalton (1998–2007), Fred Noe (2007–present), and Freddie Noe (2022–present, as co-Master Distillers). The James B Beam Distilling Company Photo, courtesy James B Beam Distilling Company The Role of the Noe Family The Noes are an old Kentucky family with deep roots in the same region where the Beam family settled. They were farmers and distillers, and over generations, they intermarried with the Beam family. The most famous Noe connection is through Booker Noe (Frederick Booker Noe II), one of the legendary master distillers in modern bourbon history. Jim Beam's daughter, Margaret Beam Noe, married into the Noe family. Her son, Booker Noe, was Jim Beam's grandson. He carried both family lines and became the 6th-generation master distiller. Booker's son, Fred Noe, and his grandson Freddie Noe are the current master distillers at Jim Beam. As Beam descendants, they've continued the family's role in running and shaping Jim Beam's distilling operations for the past century. The Noe name is as central to Beam's distilling legacy as the Beam name itself. Booker's Bourbon, named for Booker Noe, is part of this family's innovative imprint on the modern bourbon world. Beam Distilling Today Now under Suntory Global Spirits, the company still honors the values Jacob Beam instilled: quality, innovation, and true bourbon craftsmanship. Beam Suntory owns a portfolio that includes Jim Beam, Maker's Mark, Knob Creek, and other iconic names. Today, Jim Beam remains one of the best-selling bourbons in the world—a testament to the vision Jacob Beam sparked in the late 1700s along Hardin's Creek. Jacob Beam's legacy as a trailblazer of American bourbon endures, making him a true Icon of Whiskey. Though ownership has changed hands over the years, the commitment to craft, quality, and family tradition he began remains the backbone of Beam's success and a cornerstone of the whiskey world. The Icons of Whiskey is an ongoing series that highlights the leading historical personalities in the whiskey industry worldwide. More From Forbes Forbes America's Top Bourbon, According To The International Wine & Spirit Competition By Joseph V Micallef Forbes America's Best Bourbon, According To The American Distilling Institute By Joseph V Micallef Forbes The Top Bourbons From The 2025 San Francisco World Spirits Competition By Joseph V Micallef

Yahoo

19 minutes ago

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Crypto Daybook Americas: Bitcoin Buoyed by Trump, but Analysts Eye $92K Risk

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ETH led notional liquidations at $32.2 million, followed by BTC at $28.7 million. Binance heatmaps reveal dense liquidation clusters between $106,000 and $108,000, indicating that recent price action cleared layered short positioning. BTC dominance continues to hover around 65%, and while short liquidations hint at squeezed leverage, directional conviction appears measured heading into the next major expiry window. BTC is up 1.63% from 4 p.m. ET Thursday at $106,015.34 (24hrs: +0.98%) ETH is up 1.85% at $2,554.74 (24hrs: +0.46%) CoinDesk 20 is up 1.3% at 3,034.29 (24hrs: +0.76%) Ether CESR Composite Staking Rate is up 7 bps at 3.05% BTC funding rate is at 0.0071% (7.7451% annualized) on OKX DXY is down 0.30% at 98.61 Gold futures are down 0.99% at $3,374.40 Silver futures are down 2.20% at $36.10 Nikkei 225 closed down 0.22% at 38,403.23 Hang Seng closed up 1.26% at 23,530.48 FTSE is up 0.44% at 8,830.90 Euro Stoxx 50 is up 0.80% at 5,238.57 DJIA closed on Wednesday down 0.10% at 42,171.66 S&P 500 closed down 0.03% at 5,980.87 Nasdaq Composite closed up 0.13% at 19,546.27 S&P/TSX Composite closed down 0.20% at 26,506.00 S&P 40 Latin America closed on Thursday down 0.15% at 2,614.38 U.S. 10-Year Treasury rate is up 2 bps at 4.42% E-mini S&P 500 futures are down 0.24% at 5,967.00 E-mini Nasdaq-100 futures are down 0.25% at 21,666.75 E-mini Dow Jones Industrial Average Index are down 0.21% at 42,098.00 BTC Dominance: 65% (0.25%) Ethereum to bitcoin ratio: 0.02407 (-0.08%) Hashrate (seven-day moving average): 864 EH/s Hashprice (spot): $53.25 Total Fees: 5.07 BTC / $537,039.75 CME Futures Open Interest: 154,500 BTC BTC priced in gold: 31.3 oz BTC vs gold market cap: 8.87% Bitcoin reclaimed its monthly open following a successful retest of the 50-day exponential moving average (EMA), signaling a potential shift in short-term momentum. The asset is now trading above Monday's low and appears to be making a move to recapture the full Monday range. If successful, this would open the path toward the Monday high near $109,000. However, the price is currently capped by the 20-day EMA. For bulls to maintain control, it will be crucial for BTC to continue closing above the monthly open. A decisive close above the January highs would further invalidate the prevailing weekly swing failure pattern, reinforcing the bullish case and potentially paving the way for a broader continuation to the upside. U.S. markets were closed on Thursday due to Juneteenth federal holiday Galaxy Digital Holdings (GLXY): closed on Thursday at C$26.65 (+2.03%) Strategy (MSTR): closed on Wednesday at $369.03 (-1.64%), +1.1% at $373.10 in pre-market Coinbase Global (COIN): closed at $295.29 (+16.32%), +1.03% at $298.34 Circle (CRCL): closed at $199.59 (+33.82%), +10.53% at $220.60 MARA Holdings (MARA): closed at $14.49 (-1.23%), +1.73% at $14.74 Riot Platforms (RIOT): closed at $9.94 (+2.9%), +1.51% at $10.09 Core Scientific (CORZ): closed at $11.9 (+0.08%), +0.42% at $11.95 CleanSpark (CLSK): closed at $9.18 (+3.15%), +1.42% at $9.31 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $18.7 (+0.11%) Semler Scientific (SMLR): closed at $31.94 (+11.95%), +8.39% at $34.62 Exodus Movement (EXOD): closed at $30.14 (+0.43%), +3.65% at $31.24 Spot BTC ETFs Daily net flows: $0 Cumulative net flows: $46.63 billion Total BTC holdings ~1.22 million Spot ETH ETFs Daily net flows: $0 Cumulative net flows: $3.92 billion Total ETH holdings ~3.98 million Source: Farside Investors Bitcoin dominance has reached 65%, currently trading near the upper boundary of a well-defined parallel channel that has guided the trend since mid-May. 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North Korean Hackers Are Targeting Top Crypto Firms With Malware Hidden in Job Applications (CoinDesk): Hackers are using fake career sites impersonating top crypto firms to trick jobseekers into installing a Python-based remote access trojan that steals credentials and wallet data from 80+ browser extensions. Iran's Islamic Revolutionary Guard Poised for More Power (The Wall Street Journal): Israeli strikes have raised the risk of Supreme Leader Ayatollah Khamenei's fall, giving the Revolutionary Guard an opportunity to install his successor and usher in an even more radical regime. U.K. Retail Sales Drop 2.7% in Worrying Sign for Economy (Bloomberg): May's contraction was far deeper than the 0.5% decline economists forecast, adding pressure to the Labour party's fiscal plans and raising the risk of tax hikes in Rachel Reeves' autumn budget. 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Yahoo

19 minutes ago

• Yahoo

Founder Group says ‘will not be impacted' by solar power tax credits wind down

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