Former President Donald Trump said he will not remove federal subsidies from Elon Musk’s companies and wants them to succeed.
In a social media post on Thursday, Trump denied reports that he plans to end government support for Musk’s businesses.
“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,” he wrote.
The comment came a day after Elon Musk told Tesla investors that cuts in government support for electric vehicle makers could lead to a few difficult quarters. Musk, who helped Trump’s campaign in the 2024 election by spending more than $250 million, led the Department of Government Efficiency before leaving in late May to return to his tech companies.
After his exit, Musk criticized Trump’s tax and spending bill, which led to tensions between the two. Trump later threatened to cancel federal contracts with Musk’s companies.
