Tesla stock sinks 5% after Trump hits at Musk for getting 'more subsidy than any human being in history'
Trump said Musk had government subsidies than "any human being in history" in a post on Truth Social.
The pair's feud was reignited by more criticism from Musk over Trump's tax bill.
President Donald Trump and Elon Musk are still feuding, much to the chagrin of Tesla investors.
Tesla stock dropped 5% on Tuesday as traders digested a new Truth Social post from Trump, which highlighted how much assistance Musk has gotten from the US government. The president also suggested having DOGE look into cancelling contracts with Musk's business empire.
"Elon may get most subsidy than any human being in history, by fair, and without subsidies, Elon would probably have to close up shop and head back home to South Africa," Trump wrote, referring to Musk's birth nation.
The post also coincided with recent selling pressure after Tesla sales saw a 45% year-over-year decline in the EU.
A Washington Post analysis in February found that Musk's companies had received at least $38 billion in federal contracts, subsidies, tax credits, and loans spanning the last two decades.
In his post, Trump added that he had always been "strongly against" the electric vehicle mandate, which he said Musk knew about before the Tesla CEO endorsed him during his presidential campaign.
"No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!" the president continued.
Trump's post came shortly after Musk ramped up his criticisms of Trump's "Big Beautiful Bill" on X. In a post on Saturday, Musk called the tax bill "utterly insane and destructive," and said the bill could kill millions of jobs.
The comments come several weeks after Musk and Trump first began sparring on social media about the GOP tax and spending bill, which sparked a steep sell-off in Tesla before the two billionaires appeared to come to a truce.
Tesla stock has had a volatile ride so far in 2025. The stock plunged over the first four months of the year amid declining EV sales and turmoil stemming from Trump's tariffs.
But shares have rallied of lows in recent months on positive trade developments and Musk announcing he would step back from DOGE in May, though the stock is still down 21% year-to-date.
Read the original article on Business Insider
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