Elon Musk's Brother Rages at Trump After Tesla Boss Loses $30Billion In The Don's Global Stock Markets Crash

Elon Musk's younger brother Kimbal is making it clear he despises Donald Trump's new tariffs, calling them a "permanent tax."

The lashing comes as the Tesla founder is believed to have lost over $30billion thanks to the controversial tariffs, RadarOnline.com can reveal.

Kimbal took to X on Monday, April 7, to give the president his thoughts as he raged: "Who would have thought that Trump was actually the most high tax American President in generations.

"Through his tariff strategy, Trump has implemented a structural, permanent tax on the American consumer."

The 52-year-old then added: “Even if he is successful in bringing jobs on shore through the tariff tax, prices will remain high and the tax on consumption will remain the form of higher prices because we are simply not as good at making things."

"A tax on consumption also means less consumption. Which means less jobs. Which in turn leads to less consumption. And then even less jobs," Kimbal said.

Kimbal – a board member at his brother's company Tesla – also owns a restaurant chain called The Kitchen, and is a former director at SpaceX and Chipotle.

Elon, 53, has already felt the pain from Trump's tariffs, after the controversial politician announced a baseline 10% tariff for imported goods from all countries, as well as “individualized” tariffs as high as 50% on a series of specific countries and regions.

Trump's plans hit the stock markets hard, with The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite falling by more than 5%, as Musk saw his net worth cut down by $30.9billion.

However, he wasn't the only one to lose money as Amazon boss Jeff Bezos also had his net worth drop down by $27billion.

It has been a rough couple of months for Musk as he witnessed Tesla wrap up its worst quarter since 2022, with shares of the company dropping 36% in the first three months of the year.

During a rally on March 30 in support of a right-wing judge, the businessman told the crowd: “My Tesla stock and the stock of everyone who holds Tesla has gone, went roughly in half... This is a very expensive job is what I’m saying.”

Tesla dealerships have has also been hit with vandalism.

It gets worse for Musk as he is reportedly out at the Department of Government Efficiency (DOGE). Politico reported Trump told his inner circle that Musk is planning to step back from his advisory role.

According to the site: "The president remains pleased with Musk and his Department of Government Efficiency initiative, but both men have decided in recent days that it will soon be time for Musk to return to his businesses and take on a supporting role."

However, White House Press Secretary Karoline Leavitt was quick to defend Musk, calling the report "garbage," and adding that Musk would only exit when his "incredible work at DOGE is complete."