DOGE, Trump attacks Musk - Demands review of subsidies for the billionaire's companies
US President Donald Trump suggested reviewing subsidies for Elon Musk's companies. Conflicts between the two have increased recently, mainly due to the tax cut and spending bill.
United States President Donald Trump suggested that the Department of Government Efficiency (DOGE) should review subsidies that Tesla CEO Elon Musk's companies have received to save more money.
Trump's comments come after Musk, the world's richest man, reiterated his criticism of the tax and spending bill, vowing to bring down lawmakers who supported it, after campaigning to limit government costs.
"Elon could be getting more subsidies than any human being in history. Without subsidies, he would probably have to close up shop and go home to South Africa. There would be no more rocket launches, satellites, or electric car production, and our country would save a fortune. Maybe the Department of Government Efficiency should take a good, hard look at this," Trump said in a post on Social Truth. In response to Trump's post, Musk replied, "Cut it all down for me. Now!"
The US president previously threatened to cut off Musk's government subsidies and contracts when their relationship soured in early June over the bill, which analysts have said would add about $3 trillion to the US debt. Musk's businesses include rocket company and government contractor SpaceX, which has about $22 billion in federal contracts, and its Starlink satellite unit.
His rift with Trump has also caused volatility for Tesla, with the electric car company's shares losing about $150 billion in market value on June 5, the biggest one-day drop in the company's history. Musk's criticism comes after the tech billionaire spent nearly $300 million on Trump's reelection campaign and led the administration's cost-cutting initiative.
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