Trump Responds to Musk's Criticism of "Big and Beautiful" Bill, Tesla Stock Plunges

In the early hours of today Eastern Time, U.S. President Trump posted on his social media platform "Truth Social," responding to criticism from American entrepreneur Elon Musk regarding the "Big and Beautiful" bill that Trump has been promoting.

In his post, Trump stated, "Elon Musk knew full well before strongly supporting my presidential campaign that I am firmly against the 'electric vehicle mandate.' It's absurd, and it has always been a key part of my campaign.

Electric vehicles are fine, but no one should be forced to own one. The subsidies Elon has received are likely far greater than anyone else in history.

Without those subsidies, Elon might have to shut down and go back to his hometown in South Africa. No more rocket launches, satellites, or electric vehicle production, and our country would save a ton of money. Maybe we should have the Department of Government Efficiency take a good look into this? That could save a fortune!"

Following this news, Tesla's U.S. stock price saw its after-hours decline widen to over 5%.