Trump Denies Targeting Elon Musk’s Companies Amid Fallout Over Subsidies: ‘Want All Businesses To…’

<p data-pm-slice=”0 0 []”>US President Donald Trump denied claims of destroying the company of Elon Musk in the United States and said that ‘he wants’ the billionaire businessman and all the other businesses within the States. Trump had earlier threatened to cut off billions of dollars in subsidies that the companies of Elon Musk receive from the government.</p>
<p>In a post on Truth Social, the US President said, &ldquo;Everyone is stating that I will destroy Elon&rsquo;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! The better they do, the better the USA does, and that&rsquo;s good for all of us. We are setting records every day, and I want to keep it that way!&rdquo;</p>
<p>According to news agency Reuters, Elon Musk spent more than a quarter of a billion dollars to help Trump win November’s presidential election and led the Department of Government Efficiency’s chaotic effort to slash the budget and cut the federal workforce.</p>
<p>The Tesla CEO left the administration in late May to refocus on his tech empire.</p>
<p>Trump and Musk fell out shortly afterward when Musk openly denounced the Republican president’s tax cut and spending bill, leading to threats by Trump to cancel billions of dollars worth of federal government contracts with Musk’s companies.</p>
<p>The tussle between the US president and Musk shocked people globally, as the Tesla CEO was one of the biggest campaigners for the US president and spent millions of dollars on the re-election of the US president to the White House. It also benefited from the billions of dollars in tax credits and other policy benefits due to its business in clean transportation and renewable energy.&nbsp;</p>
<p>Earlier, in response to the threat by Trump, Musk had also hinted at starting a new political party and vowed to spend millions of dollars to remove lawmakers who back the tax bill.</p>