Elon Musk hits back at Trump after president said – Business News
Elon Musk hit back at President Trump’s declare that he didn’t need to strip the mogul’s corporations of his authorities subisidies.
Trump seemingly prolonged an olive department after the public falling out between the 2 by denying reviews that he had it out for Musk.
“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 wrote on Truth Social on Thursday.
“I want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before!”
Shortly afterward, Musk posted a pointed rebuttal on X, writing: “The ‘subsidies’ he’s talking about simply do not exist.”
He added that Trump “has already removed or put an expiry date on all sustainable energy support while leaving massive oil & gas subsidies untouched.”
Elon Musk has fired back at Donald Trump, publicly disputing the president’s claims about subsidies for his corporations. REUTERS
“SpaceX won the NASA contracts by doing a better job for less money. Moving those contracts to other aerospace companies would leave astronauts stranded and taxpayers on the hook for twice as much!” Musk wrote.
Last week, the Wall Street Journal reported that the Trump administration initiated a review of authorities contracts with Musk’s corporations — although officers reportedly decided that canceling these offers weren’t possible as a result of their significance to national security.
Musk on Thursday reacted to President Trump’s Truth Social post by which he spoke of “subsidies” loved by the mogul’s companies. REUTERS
Government assist has been instrumental within the growth and scale of Musk’s ventures.
His corporations have secured over $38 billion in authorities funding since 2007, in line with public information and contract information, with almost two-thirds of that quantity awarded prior to now 5 years.
The assist spans federal, state, and native ranges and contains contracts, subsidies, tax incentives and regulatory benefits.
SpaceX, Musk’s aerospace firm, is the biggest recipient, benefiting from billions in NASA and Department of Defense contracts.
The US Space Force just lately awarded SpaceX a $5.9 billion contract for rocket launches and satellite tv for pc operations by way of 2029. NASA has awarded SpaceX roughly $15 billion in contracts for cargo and crewed missions as of 2025.
Shortly afterward, Musk posted a pointed rebuttal on X, writing: “The ‘subsidies’ he’s talking about simply do not exist.” x/SawyerMerritt
Starlink, the satellite tv for pc web supplier underneath SpaceX, secured $6 billion in federal contracts between 2022 and 2023 to develop broadband entry for rural and army customers.
Tesla has acquired more than $11 billion in regulatory credit and authorities incentives. The $7,500 federal electric vehicle tax credit alone is value an estimated $1.2 billion yearly to Tesla as of 2025.
In addition, state and native governments have contributed at least $1.5 billion in grants and tax breaks for Tesla factories and battery development, primarily in California, Nevada and Texas.
xAI, Musk’s artificial intelligence company, was awarded a $200 million Department of Defense contract in July 2025 to develop AI applied sciences for national security and scientific use.
Musk and Trump’s alliance unraveled after the Tesla CEO criticized Trump’s sweeping tax and spending law, generally known as the “Big Beautiful Bill,” calling it a “disgusting abomination” and warning it might exacerbate the national debt.
SpaceX, Musk’s aerospace firm, is the biggest recipient of authorities contracts, benefiting from billions in NASA and Department of Defense tasks. Jennifer Briggs/ZUMA / SplashNews.com
Last month, Trump expressed disappointment and urged reconsidering authorities contracts for Musk’s corporations.
Musk fired back on social media, referencing allegations linked to Trump’s look within the Jeffrey Epstein information.
The feud spiraled from there, with Trump publicly attacking Musk’s character and Musk floating the concept of forming a new political occasion.
