How Trump Has Gained the Upper Hand Over Musk

DealBook|How Trump Has Leverage Over Musk

Just in: Warner Bros. Discovery said it plans to split itself into two publicly listed companies — one focusing on its streaming and studios business, the other on its cable channels — as it seeks to lift its embattled stock valuation.

We’re taking a look at the latest in the Musk-Trump saga, the inflamed tensions in Los Angeles and the trade negotiations with China taking place in London today. And we remember Dick Beattie, a prominent Wall Street lawyer behind many of the biggest deals of the last half-century.

The cold war continues

There’s still no sign of a reconciliation between President Trump and Elon Musk.

That will continue to have potentially big consequences for Musk’s vast business empire — and for his rivals — as the world’s richest man remains on the outs with the administration.

The latest: A seeming truce between Trump and Musk appears to be holding, insofar as neither man is using his respective social media platform to assail the other. Musk’s X feed in recent days has focused more on excoriating immigration protesters in Los Angeles.

Trump warned Musk to keep quiet, however. The president told NBC News that there would be “serious consequences” if his erstwhile ally backed Democratic challengers to Republican lawmakers over the policy bill.