The closest of bromances devolved last week into a public cage fight. Where did this come from? And when the richest man in the world and the most powerful man in the world decide to do battle, what are the stakes?

This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today: http://thetimes.com/thestory

Guest: Katy Balls, Washington DC Editor, The Times and The Sunday Times.

Host: Manveen Rana.

Producer: Taryn Siegel.

Further reading: Trump v Elon Musk may deliver one true winner: JD Vance.

Further listening: Why the dollar is crashing -- and why you should care.

Clips: ABC News, Sky News, NBC/Today, Bloomberg Television, CNN, The Late Show with Stephen Colbert, Fox News, Spectrum News, CBS News.

Photo: Getty Images.

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