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Tesla shares plunge, Trump says he wants Musk’s companies to ‘thrive’

Washington | Donald Trump denied that he was seeking to ruin the business empire of his one-time ally Elon Musk as retribution for their dispute over the US president’s signature tax law.

“Everyone is stating that I will destroy Elon’s companies by taking away some, if not all, of the large-scale subsidies he receives from the US government. This is not so! I want Elon, and all businesses within our country, to THRIVE,” Trump posted on social media, though it was unclear exactly what comments he was responding to.

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    Original URL: https://www.afr.com/markets/equity-markets/tesla-shares-plunge-trump-says-he-wants-musk-s-companies-to-thrive-20250725-p5mhnx