"The easiest way to save money in our Budget … is to terminate Elon's Governmental Subsidies and Contracts," Trump said in a post.

Musk’s recession prediction comes during a delicate at a time when the President’s economic agenda is the source of growing concern among executives, including JP Morgan Chase CEO Jamie Dimon, who warned last week of a “crack in the bond market” as investors get skittish about the fiscal solvency of the U.S.

Elon Musk is extremely powerful, but he is not invincible, and spending several hours in a social media brawl with President Donald Trump erased $34 billion from his net worth -- and the full calculation of the damage is not yet complete.