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Trump says he gained’t ‘damage’ Musk’s firms through removing subsidies

Canaccord Genuity's Gianarikas: We may have seen the bottom for Tesla, positive acceleration to come

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Trump says he gained’t ‘damage’ Musk’s firms through removing subsidies

Elon Musk receives a yellowish key from U.S. President Donald Trump within the Oval Workplace on the White Area in Washington, D.C., U.S., Would possibly 30, 2025. REUTERS/Nathan Howard

Nathan Howard | Reuters

President Donald Trump on Thursday denied claims that he needs to demolition Elon Musk’s firms and their paintings with the U.S. executive.

“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,” he mentioned in a publish to Truth Social. “This is not so! I want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before!”

“The better they do, the better the USA does, and that’s good for all of us,” Trump wrote.

Trump’s reaction comes because the pair have persevered a confrontation that started with Musk’s opposition to the president’s signature spending invoice, and developed into the Tesla CEO attacking the president’s dating with convicted intercourse culprit Jeffrey Epstein.

In June, the president threatened to snip a few of Musk’s executive agreements as the 2 clashed over the “Big Beautiful Bill” and their dating unraveled.

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