US President Donald Trump on Monday reiterated his support for tech billionaire Elon Musk and said the he is “putting it on the line” to help the nation.
In a social media post on Truth Social, Trump accused the “left lunatics” are attacking Musk by illegally and collusively boycotting Tesla.
“To Republicans, Conservatives, and all great Americans, Elon Musk is “putting it on the line” in order to help our Nation, and he is doing a FANTASTIC JOB! But the Radical Left Lunatics, as they often do, are trying to illegally and collusively boycott Tesla, one of the World’s great automakers, and Elon’s “baby,” in order to attack and do harm to Elon, and everything he stands for,” Trump said.
“They tried to do it to me at the 2024 Presidential Ballot Box, but how did that work out? In any event, I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American. Why should he be punished for putting his tremendous skills to work in order to help MAKE AMERICA GREAT AGAIN?” he added.
Musk also responded to Trump in a social media post on X and said, “Thank you, President Trump
US President’s remarks came after Musk has seen his net worth plunge by an astounding $120 billion in just a few weeks. The chief executive of Tesla, SpaceX and X (formerly Twitter), who now serves in a senior advisory position within the US government, has witnessed his wealth decrease by approximately 25 percent since the start of 2025.
The combination of Tesla’s declining share price, increasing scrutiny of his political associations, and diminishing consumer interest has prompted specialists to question the sustainability of his dominant market position.
Majority of Elon Musk’s wealth reduction stems from Tesla’s performance. The company’s share value has declined by roughly 35 percent in the previous two months, resulting in a $400 billion reduction in market capitalisation.
