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Trump and Musk (Image: Getty)
US President Donald Trump has sent Tesla stocks tumbling after he threatened Elon Musk on Tuesday. It came after the pair renewed their war of words over the President's so-called "Big Beautiful Bill", which Telsa-owner Musk has been a vociferous critic of.
Following new criticism from Musk from the bill, Trump said in a social media post that the federal government should look into cutting subsidies the billionaire tech entrepreneur's companies receive. Writing on his Truth Social platform, the President said: “Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa.
"No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!”.
Musk had until recently been in charge of Doge (the Department of Government Efficiency), an initiative tasked with finding large government spending cuts.
The Space X owner and entrepreneur stepped back from the role in late May to concentrate on his various companies, with both he and Trump offering glowing praise for each other.
Tesla's stock price fell more than 5% in premarket trading early on Tuesday following Trump's post, The Independent reported.
Musk hit back at the subsidies threat, writing: "I am literally saying CUT IT ALL. Now."
GB News hosts share breaking news on Elon musk 'apology'
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