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Fight with Trump: Elon Musk suffers $34 billion loss in one day
Elon Musk suffered a staggering $34 billion drop in his net worth on Thursday, June 5, marking one of the most significant single-day losses in his personal fortune, according to the Bloomberg Billionaires Index.
The plunge came after a volatile exchange with former President Donald Trump, fueled by a series of controversial tweets from the Tesla and SpaceX CEO.
Musk had posted claims linking Trump to Jeffrey Epstein and hinted that Trump played a major role in securing the 2024 presidential victory. The accusations sparked immediate backlash from Trump, who retaliated by threatening to revoke federal contracts with Musk’s companies.
He also warned of removing the electric vehicle (EV) tax credit—introduced under President Biden’s 2022 Inflation Reduction Act—which has been a significant financial incentive for Tesla customers, offering up to $7,500 off EV purchases.
In a sharp response to Trump’s threat, Musk declared he would decommission SpaceX’s Dragon spacecraft.
“This is an unfortunate episode from Elon, who is unhappy with the One Big Beautiful Bill because it does not include the policies he wanted,” said White House press secretary Karoline Leavitt in response to Business Insider’s inquiry regarding Musk’s Epstein-related tweet.
“The President is focused on passing this historic piece of legislation and making our country great again.”
The fallout sent Tesla shares tumbling more than 14%, resulting in an estimated $138 billion loss in market capitalization. Bloomberg estimates that $34 billion of that decline came directly from Musk’s personal holdings.
This isn’t the first time Musk’s tweets have had financial consequences. In November 2021, he ran a Twitter poll asking if he should sell 10% of his Tesla stock. Over 57% of 3.5 million participants voted “yes,” prompting a 16% drop in Tesla shares that week and wiping out $50 billion from Musk’s net worth.
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NHRC condemns extrajudicial killing by police in Delta community
….The Commission wants IGP to address use of excessive force by police
The Executive Secretary of the National Human Rights Commission (NHRC), Dr. Tony Ojukwu OFR, SAN, has strongly condemned the alleged extrajudicial killing of a 28-year-old Nigerian, Mene Ogidi, by a police officer, ASP Nuhu Usman, on April 26, 2026, in Efurun, Uvwie Local Government Area of Delta State.
In a statement issued in Abuja, Dr. Ojukwu described the incident as “deeply disturbing and a direct assault on human dignity, the Constitution of the Federal Republic of Nigeria, and the rule of law.”
He stressed that no Nigerian should lose their life at the hands of those sworn to protect them, reiterating that every life matters and must be protected.
According to him, “the reported action of the officer involved is condemnable, unacceptable, and completely inconsistent with the principles of justice and a civilized society.”
The statement which was signed by Hajia Fatimah Agwai Mohammed, Director, Corporate Affairs and External Linkages, quoted Ojukwu to have expressed grave concern over the recurring incidents of excessive use of force by law enforcement officers and called on the Nigeria Police Force to take urgent and decisive steps to address the issue.
He specifically urged the police authorities to subject officers deployed on special duties to periodic mental and psychological evaluations to ensure they are fit to carry arms and engage with civilians responsibly.
Dr. Ojukwu further called for the immediate disciplinary action against ASP Nuhu Usman in line with extant laws and police regulations.
He also emphasized the need for the Nigeria Police Force to fully implement the recommendations of the Commission’s Panel on Police Brutality as a necessary step toward meaningful reform and prevention of future violations.
“The Commission demands immediate arrest and a transparent investigation into the incident, dismissal of the officer involved, and swift prosecution in accordance with the law.
We hereby call for adequate compensation and justice for the family of the victim,” he stated.
He warned that justice delayed only deepens public distrust in state institutions and undermines confidence in law enforcement.
The Executive Secretary assured that the NHRC will continue to monitor the case closely and will persist in its advocacy for accountability, justice, and the protection of the fundamental rights of all Nigerians.
“Nigeria must never normalize brutality. Justice must speak louder than silence,” he concluded.
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Supreme Court to rule on ADC, PDP cases Thursday
The Supreme Court of Nigeria will on Thursday, deliver judgments in two cases involving the leadership crises rocking the African Democratic Congress and the Peoples Democratic Party.
According to information on the official website of the court, the matters, listed under “Political Appeals”, have been added to the cause list for Thursday, April 30, 2026.
While judgment in the ADC matter, marked SC/CV/180/2026, has been fixed for 2 pm, there is no time yet for that if the PDP.
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Tinubu to reconstitute NHRC board, retains Ojukwu as ES/CEO
President Bola Tinubu has written the Senate, seeking the screening and subsequent confirmation of fifteen nominees to the National Human Rights Commission (NHRC).
The letter was read by the President of the Senate, Senator Godswill Akpabio.
The letter seeks the reconstitution of the commission’s board in line with statutory provisions with the list comprising nominees from diverse professional backgrounds, including the media and legal sectors.
Among the nominees are the President, Nigeria Guild of Editors and Editor, Vanguard Newspapers, Mr. Eze Anaba; and Dr. Salamatu Hussaina Suleiman, who has been proposed as chairman of the board.
The Executive Secretary of the Commission, Dr. Anthony Ojukwu (SAN) is to retain his position as the Chief Executive Officer.
Other nominees include Mrs Roseline Tasha, Ambassador Adam Yubak Baku, ACG Felix Lawrence, Mr. Edmund Chinonye, Mr. Chinonye Obiaku (SAN), Oluwakemi Asiwaju Okere-Odo, Professor Adedeji Ogunji, Kingsley Chidozie, Mohammed Adelodu, Maupe Ogun Yusuf, and Otunba Francis Meshioye as members.
Also nominated are Patience Patrick and Hawwa Ibrahim, listed as members.
The President said the nominations were made pursuant to Section 2(3) of the National Human Rights Commission (Establishment) Act, 2010, which empowers him to constitute the board subject to Senate confirmation.
He explained that the reconstitution of the board was necessary to enhance the commission’s institutional capacity and enable it to more effectively discharge its mandate to promote and protect human rights across the country.
If confirmed, the new board is expected to play a critical role in reinforcing the NHRC’s oversight functions, particularly at a time of heightened concerns over rights protection and accountability in Nigeria.
Following the presentation of the request, the Senate referred the nominations to its Committee on Judiciary, Human Rights and Legal Matters for screening and report within two weeks.
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