The Musk-Trump Showdown Intensifies

Mon Jun 30 2025
Rajesh Sharma (2096 articles)
The Musk-Trump Showdown Intensifies

US President Donald Trump has criticized his former ally and billionaire Elon Musk, suggesting that Musk may need to “head back to South Africa” if subsidies for Tesla and SpaceX are removed.

On his social media platform Truth Social, Trump claimed that Musk has gained from an extraordinary amount of government support. “Elon may get more subsidies than any human being in history, by far,” Trump wrote. “Without subsidies, Elon would likely have to shut down operations and return to South Africa.” No more rocket launches, satellites, or electric car production, and our country would save a significant amount of money.”
Trump also suggested an inquiry by the Department of Government Efficiency (DOGE), stating, “Perhaps we should have DOGE take a good, hard look at this?” BIG MONEY TO BE SAVED!!!”

The outburst came after Musk’s pointed critique of the US Senate’s updated version of Trump’s Big Beautiful Bill, which suggests considerable reductions to clean energy subsidies. Musk described the changes as “incredibly destructive” and cautioned about wider economic and environmental repercussions.

In response to Musk’s comments, Trump stood by his position, stating: “Elon Musk knew, long before he so strongly endorsed me for President, that I was strongly against the EV mandate.” It is absurd, and has consistently been a significant aspect of my campaign. Electric cars are acceptable, but not everyone should be compelled to own one.

Musk suggested the possibility of starting a new political organization if the legislation is approved. In a post on X, he referred to the US as a “one-party country – the porky pig party,” expressing criticism towards both Democrats and Republicans for what he described as a deficiency in fiscal discipline. The public confrontation between the two billionaires comes after weeks of tension. Musk previously criticized the bill in a CBS interview, describing it as a measure that would expand the deficit and undo reforms he had introduced while leading DOGE.

Trump and Musk once shared a friendly political relationship, but recent interactions have become antagonistic. Following a preliminary exchange of statements, the White House stepped in, recommending caution. Musk later issued a partial apology, stating, “I regret some of my posts about President Donald Trump last week.” “They went too far.”
White House Press Secretary Karoline Leavitt later confirmed that both Trump and the administration had acknowledged Musk’s apology, although the aftermath seems far from settled.

Rajesh Sharma

Rajesh Sharma

Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.