Tesla Inc. TSLA and SpaceX CEO Elon Musk launched a fresh attack on President Donald Trump following the latter's post on Truth Social claiming he wants Musk's companies to "thrive" regardless of subsidies.
What Happened: Influencer Sawyer Merritt, on Thursday, shared a screenshot of Trump's post on social media platform X, where Trump denied trying to "destroy" Musk's businesses by "taking away some, if not all of the large scale subsidies" Musk's companies receive from the government.
Musk responded to the post, saying that the subsidies "simply do not exist." He then added that Trump had "already removed or put an expiry date on all sustainable energy support while leaving massive oil & gas subsidies untouched."
Musk also said that SpaceX won all the NASA contracts "by doing a better job for less money." The billionaire also said that offering NASA contracts to other companies risks leaving astronauts stranded in space and would cost twice as much to taxpayers.
Why It Matters: The news comes as tensions between Musk and Trump continue to rise, with the Pentagon reportedly considering other potential partners besides SpaceX in the $175 billion Golden Dome system.
Musk had also added fuel to the fire by attacking Trump on his claims that the Jeffrey Epstein files were a hoax, but then defended the president over reports in the media that showed a lewd letter by Trump to Epstein for his 50th birthday.
Elsewhere, Tesla Inc. TSLA reported disappointing results in its second-quarter earnings call, with critics saying the company's plans to release a scaled-down Model Y could end up cannibalizing the vehicle lineup.
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