The drop comes as shares of the EV maker saw a 22% rally in May with Musk wrapping his time as Trump's Department of Government Efficiency, or DOGE.

The world’s richest person, fresh off a few drug-fueled months of sowing chaos throughout Washington as the spiritual leader of DOGE, is now attempting to kill Republicans’ massive spending package, known as the “ Big, Beautiful Bill.” The House passed the bill in May, and it now faces major changes in the Senate.