United States (U.S.) President Donald Trump denied on Thursday reports suggesting that he plans to destroy Elon Musk’s companies by cutting off government subsidies.
“Everyone is claiming that I will destroy Elon’s companies by taking away some, if not all, of the large subsidies he receives from the U.S. government. That’s not true,” Trump wrote on the social network Truth Social.
He emphasized that he supports business success in the U.S.
“I want Elon and all enterprises in our country to thrive, in fact, to thrive like never before,” he said, adding that it would be good for the U.S. if they were better.
“Every day we are breaking records, and I want it to stay that way,” he added.
Asked on Wednesday about the recent agreement signed between Musk’s artificial intelligence company xAI and the Pentagon, White House spokeswoman Karoline Leavitt said she believes Trump does not support the idea of federal agencies doing business with Musk’s companies. Leavitt said she would have to speak with the president about canceling existing contracts.
Trump’s statement comes amid a significant conflict with Musk that ended their cooperative relationship. The dispute centers on Trump’s tax and domestic policy law, which Musk called “a hideous abomination.”
Musk issued sharp criticism, suggesting that Trump should be impeached and announced the formation of a new “American Party.”
Trump threatened to cancel government contracts with Musk’s companies, such as SpaceX, expressing disappointment with the billionaire who supported his 2024 re-election campaign and led the Department of Government Efficiency.
