For Tesla acolytes, particularly those who are prepared to put their money where Elon’s mouth is, things only get worse and worse! The controversial CEO’s most recent argument with President Trump caused TESLA to drop over 5% in pre-morning trading, and one investor is expected to lose around $50,000 if they gambled on Tesla’s ability to deliver a Robotaxi service by the end of June—something that didn’t happen.
The planned federal tax and budget package that Trump strongly supports and Musk firmly opposes is at the heart of the rekindled animosity between President Donald Trump and Elon Musk. Trump suggested that the Department of Government Efficiency (DOGE) look into cutting federal subsidies to Musk’s companies in a post on Truth Social.
“Without subsidies, Elon would probably have to close up shop and head back home to South Africa,” Trump wrote. “No more rocket launches, satellites, or electric car production, and our country would save a fortune. Perhaps we should have DOGE take a good hard look at this? Big money to be saved.”
Trump told reporters his administration would “have to take a look at” deporting Musk, a naturalised citizen and native of South Africa.
Trump has made it clear time and time again that Musk is against the budget agreement because it might cut subsidies for Tesla and his other businesses. However, Musk continues to express concern that the package would result in a $5 trillion increase in the government’s debt cap.
On X, Musk suggested he does not care about the potential loss of government subsidies.
“I am literally saying cut it all,” he wrote. “Now.”
A public interest monitor claims that since 2007, Tesla has benefited from government subsidies totalling about $3 billion. The company’s financial gain from government programmes places it 16th out of all enterprises. Not included in the top 100 are Musk’s SpaceX and Starlink.
Musk referred to himself as the “first buddy” and spent most of his time at Trump’s Mar-a-Lago resort in Florida between the election and his inauguration. However, Musk and Trump got into a public spat shortly after Musk left his position with DOGE. At one point, Musk even implied that Trump was involved in a sex-trafficking investigation of embattled businessman Jeffrey Epstein.
Although Musk later expressed contrition for some of his remarks regarding Trump, he has since returned to criticising the budget blueprint. The public dispute between them has now surfaced on social media once more.