Elon Musk is discovering that political power has limits—even for a billionaire tech mogul. After years of operating with immense influence over U.S. infrastructure through ventures like SpaceX and Tesla, Musk is now publicly grappling with a shift in political dynamics, particularly involving former President Donald Trump.

Once hailed as a behind-the-scenes force—his companies powering parts of the Department of Defense and Treasury—Musk enjoyed unprecedented influence during Trump’s presidency. But that era may be over. Recent reports suggest Musk is now frustrated that his policy preferences are no longer top priority under Trump's revived political agenda.

The flashpoint appears to be Trump's new budget plan, which Musk criticises for inflating the national deficit. But sources familiar with the matter suggest Musk is more upset about cuts to electric vehicle (EV) tax credits—key incentives that help boost Tesla sales in a market that's already cooling. Losing those credits could further strain Tesla, which has seen fluctuating demand amid rising competition.

Musk’s frustration has spilled over onto X (formerly Twitter), where he’s urged his massive online following to pressure lawmakers into rejecting the proposed bill. The irony is rich: a man once so close to the levers of power is now reduced to digital lobbying.

Adding fuel to the fire, reports from Axios say Musk is displeased that he wasn't allowed to extend his role as an unpaid government advisor beyond legal limits. There’s also speculation he’s unhappy that the Federal Aviation Administration (FAA) isn't adopting Starlink, his satellite internet service, for its operations.

While Musk’s past political ties gave him rare leverage, it appears that support was transactional. Trump, now focused on fiscal optics and new alliances, is no longer catering to Musk’s business interests.

The episode serves as a stark reminder: political influence can be fleeting, especially when tied to unpredictable figures. For Musk, the cost of previous proximity to power may now be coming due—with diminishing returns.