Trump clarified his position on Musk's businesses, asserting a desire for their success and denying intentions to reduce federal subsidies. His comments came after a decline in Tesla's stock, attributed to disappointing earnings and potential impacts from recent tax changes. The White House press secretary previously indicated uncertainty about Trump’s stance on Musk’s AI company securing government contracts. Current market struggles for Musk’s companies raise questions about future dynamics between Trump and Musk following this exchange.
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! I want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before! Trump wrote on Truth Social.
By the numbers: Musk's companies, as it happened, weren't doing particularly well Thursday. Tesla shares fell 9% in mid-morning trading, after the company reported disappointing earnings, and warned that the changes in Trump's recently signed tax bill could weigh on results in coming quarters.
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