Former U.S. President Donald Trump has dismissed claims that he wants to harm Elon Musk’s businesses, insisting that he supports Musk’s success. His comments come amid an ongoing public feud between the two influential figures.
“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 US Government. This is not so! I want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before!” Trump posted on his platform, Truth Social.
Trump and Musk once worked closely especially when Musk was actively supporting Dogecoin and was in alignment with Trump’s earlier policies. However, things soured after Musk criticized Trump’s major tax and spending bill. At the time, Trump refrained from responding, even as Musk publicly opposed the legislation over concerns it would add to the U.S.’s $36.2 trillion debt. Following the fallout, Trump reflected on their former camaraderie: “Elon and I had a great relationship. I don’t know if we will anymore.”
Even after Trump’s attempt to tone down tensions, Musk did not hold back. He accused the former president of having ties to Jeffrey Epstein, the convicted sex offender, adding more fuel to their ongoing battle on social media.
Just last month, Trump suggested cutting government support for Musk’s businesses. “The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts. I was always surprised that Biden didn’t do it,” Trump had said earlier.
He also claimed Musk was upset over the Biden administration scaling back electric vehicle mandates, saying, “He was upset because we took the EV mandate, which is a lot of money… I know that disturbed him…”
Trump-supported budget and tax legislation, recently passed by Congress, will stop providing a $7,500 federal tax credit for new electric vehicle purchases or leases by September 30. A $4,000 tax break for used EVs will also end. These incentives have been instrumental in boosting green vehicle sales, which are a major part of Musk’s Tesla business.
In June, shortly after the public spat, Reuters reported that the White House had instructed the Department of Defense and NASA to review their financial agreements with SpaceX. The review involved billions of dollars in contracts, possibly hinting at future government actions targeting Musk’s companies.
