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Weeks after suggesting the Department of Government Efficiency (DOGE) turned against billionaire Elon Musk’s companies, US President Donald Trump on Thursday dismissed rumours that he intends to cut federal subsidies to the tech mogul’s companies.
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“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!” Trump posted on Truth Social.
He stated that his priority is for American businesses to flourish: “I want Elon, and all businesses within our country, to THRIVE, in fact, THRIVE like never before!”
Trump added that the country’s economic momentum is strong and should be preserved. “The better they do, the better the USA does, and that’s good for all of us. We are setting records every day, and I want to keep it that way!”
This comes after Trump suggestion that DOGE, the cost-cutting agency Musk helped set up, could be used to hurt the billionaire’s companies – as the former allies continue their public dispute over Trump’s budget plans.
“Elon may get more subsidy than any human being in history, by far,” he wrote on social media. “Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!”
The tech billionaire wrote in reply: “I am literally saying CUT IT ALL. Now.”
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Musk has time and again criticised Trump’s so-called “big, beautiful bill”, suggesting that it undermines the work he undertook to cut government spending.
A row between Trump and Musk first blew up last month, and then again earlier this month, with the pair trading barbs publicly before Musk backtracked on some of his attacks.
Musk also launched a new political party, weeks after dramatically falling out, which he announced on his social media platform X that he had set up the America Party, billing it as a challenge to the Republican and Democratic two-party system.
Trump had hit out at former close ally, saying: “I think it’s ridiculous to start a third party. It’s always been a two-party system and I think starting a third party just adds to the confusion.”
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