I won’t Destroy Elon Musk’ — Trump Debunks Alleged Revenge Plot
President Donald Trump of the United States of America has refuted allegations of secret plans to slash federal subsidies to Elon Musk’s companies, saying he wants the billionaire’s businesses in the US to thrive.
Taking to a post on Tuesday, via his Truth Social platform, Trump stated emphatically that he desired to see want Elon, and all businesses within our Country, to thrive, in fact, thrive like never before.
In his words:
“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!”
His remarks come amid escalating tensions with Musk, once a close ally, following a public fallout over Trump’s tax and spending proposals.
In early June, Musk criticised the president’s budget plans, prompting Trump to suggest that the Department of Government Efficiency (DOGE), which Musk helped establish, should investigate the subsidies granted to Musk’s ventures.
“Elon may get more subsidies than any human being in history, by far,” Trump wrote at the time.
“Perhaps we should have DOGE take a good, hard look at this? BIG MONEY TO BE SAVED!!!,” he added.
Musk fired back, with a swift response on X: “I am literally saying CUT IT ALL. Now.”
The Tesla CEO has repeatedly criticised Trump’s “big, beautiful bill,” arguing it undermines efforts to rein in government spending.
Despite the friction, Trump on Thursday signalled he had no intention of retaliating against Musk’s companies.
“The better they do, the better the USA does, and that’s good for all of us. We are setting records every day, and I want to keep it that way!” Trump wrote.
After leaving Trump’s administration in May to refocus on his businesses, Musk launched a third political party — the America Party — as an alternative to the Republican and Democratic parties.
Trump dismissed the move as “ridiculous,” insisting that a third party would only “add to the confusion.”
The row has also raised concerns over Musk’s flagship company SpaceX, which had been in pole position to deliver key components of Trump’s $175bn Golden Dome missile defense shield.
But sources told Reuters that the administration is now exploring other partners, as the president grows increasingly wary of Musk’s political moves.
