Eric Trump criticized Bloomberg on Thursday for characterizing SpaceX as "overpromising and underdelivering," posting orbital launch statistics on X in defense of the company. Elon Musk subsequently weighed in, declaring simply: "Bloomberg is garbage."

Bloomberg's characterization sparks backlash

In its recent coverage of SpaceX, Bloomberg described the company as one that overpromises and underdelivers, drawing swift rebuttals from both Eric Trump and Elon Musk.

Eric Trump responded by citing figures indicating that SpaceX was responsible for approximately 80 to 85% of all mass launched to orbit in 2025, compared to roughly 8 to 10% for China. He also noted that the company had completed "165 successful Falcon flights with zero failures." His post on X can be found here.

Musk's response was more concise. He wrote, "Bloomberg is garbage," in a post to his followers here. The post garnered more than 1,600 likes within hours.

The "overpromising" charge that Eric Trump sought to refute relates to targets Musk has publicly set but not yet achieved. The tension highlights a gap between SpaceX's operational dominance in orbital launches — where its Falcon 9 rocket has become the workhorse of both commercial and U.S. government missions — and the far more ambitious timelines Musk has attached to Starship, Mars colonization, and other long-term goals. Musk has a documented history of disputes over his public statements, including an announced plan to take Tesla (NASDAQ: TSLA) private that never materialized.

SpaceX financials and Starship development

As previously reported, SpaceX disclosed its first earnings, posting $7.81 billion in second-quarter revenue, up 92% year over year. The company also reported a $541 million net loss and $18.37 billion in quarterly capital spending.

Company executives stated that the 13th Starship test still requires regulatory approval before proceeding. The FAA has overseen a series of environmental and safety reviews for Starship launches from SpaceX's Boca Chica, Texas facility, and each test flight has required a separate license modification. They also indicated that a Starlink upgrade will not be fully available to customers until approximately 1,000 new satellites are in orbit.

SpaceX's Starship program has cost more than $15 billion to date, including $3 billion in 2025 and nearly $900 million in early 2026. The company expects Starship to begin delivering payloads to orbit in the second half of 2026, though that milestone has not yet been reached. Starship is central to SpaceX's broader ambitions, including NASA's plan to return astronauts to the Moon under the Artemis program, where a modified Starship serves as the lunar lander.

A pattern of media confrontations

Eric Trump has a history of clashing with the press. In 2017, he told Fox News host Sean Hannity that critics of his father were "not even people" and called the news media "out of control." That same year, he told a radio show that dwelling on negative coverage could push someone to "end up killing yourself out of depression."

During the 2024 campaign, he defended claims about FEMA that officials had labeled disinformation, telling Scripps News: "It's not misinformation. FEMA has run out of money."

Musk has had numerous similar confrontations that have intensified as his platform has grown. The Guardian columnist Jane Martinson recounted Musk's interview with Zanny Minton Beddoes, editor-in-chief of The Economist, whom he called a "traitor to the West" after the interview concluded. He has also described the mainstream press as a "reality distortion nightmare mirror."

A separate dispute with President Donald Trump in June 2025 erased $34 billion from Musk's net worth in a single day. During that episode, Musk threatened to decommission SpaceX's Dragon spacecraft but reversed his decision five hours later.