Trump Has Stated That He Does Not Want To Destroy Musk's Business
- 24.07.2025, 18:17
The billionaire had earlier warned Tesla of several tough quarters due to the US president's measures.
US President Donald Trump has said he is not going to destroy the business of Ilon Musk, the head of Tesla and SpaceX.
"Everybody says I'm going to destroy Ilon's companies by taking away some, if not all, of the big subsidies he gets from the US government. That's not true!" - Trump said.
He said he wants Musk, like all businesses in the U.S., to "prosper like never before."
"The better they do, the better it is for the U.S., it's good for all of us. We're breaking records every day, and I want that to continue!" - assured the White House chief.
Mask has already warned Tesla executives that the company is in for some tough quarters due to the withdrawal of government support for electric cars. In his opinion, the manufacturer will be able to achieve "convincing" indicators only by the end of 2026.
Trump and Musk quarreled over the "big and beautiful bill" - the bill on tax relief and increasing the ceiling of the national debt, which the businessman criticized. According to the billionaire (Musk is the richest man in the world with a fortune of $400.5 billion according to Forbes), the bill would cause "enormous strategic harm" to the country. He called it a "completely insane and destructive" document that "gives handouts to industries of the past while doing serious damage to industries of the future." The bill would increase the national debt ceiling by $5 trillion and "put America on a path to debt slavery," the businessman argued.
Trump, for his part, claimed that Musk, the head of Tesla, was "upset" about losing the mandate to produce electric cars, and threatened him with cutting subsidies, without which the businessman, the president assured him, would have to "close up store and go home to South Africa." In response to the Republican's threat to withdraw all government contracts and subsidies for the sake of saving money, Musk announced the recall of his Crew Dragon spacecraft (apart from them, only Russian Soyuz ships fly to the ISS).
After the quarrel with Trump, Musk announced the creation of a new party, which he called "America," to which the American leader replied that he was "sad to see" how the billionaire had completely "gone off the rails."