Friday, July 25, 2025 - US President Donald Trump said he would not destroy Elon Musk's companies by removing federal subsidies and insisted he wants the billionaire entrepreneur’s businesses to thrive.
“Everyone is stating that I will destroy Elon’s companies by
taking away some, if not all, of the large-scale subsidies he receives from the
U.S. government. This is not so,” Trump said in a social media post. “I want
Elon, and all businesses within our country, to thrive.”
The statement follows a public fallout between Trump and Musk
on June 5 over tax policy. Musk had warned Tesla investors on Wednesday that
cuts in U.S. government support for electric vehicle makers could lead to a
“few rough quarters” for the company.
A week after their clash, the White House reportedly
instructed the Defense Department and NASA to gather details on billions of
dollars in SpaceX contracts, potentially preparing for retaliation against Musk
and his companies.
Musk had contributed more than a quarter of a billion dollars
to support Trump’s reelection campaign and had briefly led the Department of
Government Efficiency in an effort to slash federal spending and reduce the
workforce. He stepped down from the role in late May to refocus on his
technology ventures.
Their relationship soured shortly afterward, when Musk
criticized Trump’s tax-cut and spending bill. Trump responded by threatening to
cancel federal contracts worth billions awarded to Musk’s companies.
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