The US President Donald Trump said today (24.7.2025) that he would not destroy his companies Mask Federal subsidies and said that he wants the billionaire companies to flourish.
“Everyone declares that I will destroy the companies of Elon Musk by withdrawing some, if not all, the large -scale subsidies it receives from the US government. This is not the case! “Dondald Trump said in a post on social media.
“I want Musk and all businesses in our country to get angry.”
The statement follows the warning that Musk yesterday (23.7.25) to Tesla investors that US government cuts in subsidies to electric vehicles could lead to “some harsh quarters” for the company.
Elon Musk spent more than $ 250 million to help Trump win the November presidential election and led the chaotic effort of the ministry of government effectiveness to reduce the budget and the federal workforce.
Tesla’s chief executive withdrew from the government at the end of May to re -focus on his technological empire.
Trump and Musk came in a break shortly after Musk publicly denounced the Republican president’s tax cuts, a conflict that led to Trump’s threats to cancel contracts by the federal government’s dollars.
Fall 8% of Tesla in Wall Street, after sales decrease in the 2nd quarter
The stock of Tesla electric car company lost more than 8% today on Wall Street, the day after its release for the second quarter, where a decline in sales was recorded.
Around 17.15 hours of Greece, Tesla’s share fell 8.45% to $ 304.45. Since the beginning of the year, the stock has lost almost 20%.
The group announced yesterday a drop of 16% of its net profits in the second quarter, affected by a decrease in car sales in a competition framework and the consequences of the involvement of Elon Musk’s owner in the US political sphere.
During April and June, the US automaker recorded a turnover of $ 22.50 billion (-12% on an annual basis) and net profits of $ 1.17 billion, below analysts’ expectations.
“We could get to know some difficult quarters. (…) The fourth quarter (2025), the first trimester and the second quarter (2026), “Elon Musk said yesterday during a one-conference audio.