Published by Aloto Naga | July 24, 2025
The U.S. President Donald J. Trump has dismissed growing speculation that he plans to withdraw federal subsidies from Elon Musk’s business ventures. In a statement issued on Truth Social at 9:34 AM EST on July 24, Trump addressed widespread concerns that a potential second term in office would spell financial trouble for Musk’s companies, including Tesla and SpaceX.
“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!” Trump clarified in his post.
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He emphasized that his intention is not to hinder innovation or private enterprise, but to foster a thriving business environment in the United States.
“I want Elon, and all businesses within our Country, to THRIVE—THRIVE like never before! The better they do, the better the USA does, and that’s good for all of us,” he stated.
Trump also claimed that under his leadership, the U.S. has been “setting records every day” and expressed a commitment to maintaining that momentum. His message appears aimed at reassuring both investors and the tech community that his policies will support rather than disrupt major American enterprises.
Context:
Elon Musk’s companies have historically benefited from federal subsidies, tax incentives, and government contracts. Recent rumors suggested a shift in Trump’s stance, possibly due to Musk’s growing political influence. This public statement now aims to put those concerns to rest.
