U.S. President Donald Trump on Tuesday threatened to revoke billions in federal subsidies benefiting Elon Musk’s companies, intensifying a growing feud between the two former allies turned adversaries.
00:00For our next update on the news is U.S. President Donald Trump on Tuesday threatened to cut off the billions of dollars in subsidies that Elon Musk companies received from the federal government.
00:11This is an escalation of the war of words between the president and the world's richest men, one-time allies, who have since fallen out.
00:49Trump responded by saying Musk is upset about losing his EV mandate and warned he could lose even more.
00:59On TrueSocial, Trump accused Musk of receiving more subsidies than any human in history and hinted at halting Tesla-related support, no more rocket launches, satellites or EV production.
01:12Tesla shares fell over 5% on Tuesday following the escalation.
01:17Musk replied on X saying, I am literally saying cut it all but held back from further attacks for now.
01:23Republicans worry the feud could hurt their chances in the 2026 midterms.
01:28Treasury Secretary Scott Bassett defended the bill against Musk's deficit concerns, while Trump joked that Musk's government efficiency initiative, Dodge, might have to go back and eat Elon.
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