During a recent press conference, US President Donald Trump adopted a more balanced approach towards Tesla CEO Elon Musk, following a public fallout between the two last week. The news positively impacted Tesla’s stock, which saw a 4.6% increase by the end of the trading day.
President Trump stated he would retain ownership of his Tesla Model S, despite the strained relationship, and mentioned the possibility of relocating the vehicle. He also affirmed his support for Musk’s Starlink service, describing it as “a great service” and dismissed any plans to terminate it.
Trump expressed good wishes for Musk, saying, “good luck, a lot of good luck.” When questioned about Musk’s potential drug use in the White House, Trump replied that he was unaware of such incidents and hoped they never occurred. He also conveyed that while he believed Musk wanted to communicate with him, he was unsure if Musk had made contact yet.
The discord between Trump and Musk surfaced last week when Musk criticized Trump’s “Big Beautiful Bill” as a “disaster” due to its implications for the budget deficit and national debt. Trump had suggested Musk disliked the legislation because it eliminated the electric vehicle mandate, which could negatively affect Tesla. Musk refuted this claim, labeling it as a “lie.” In response, Trump threatened to cancel Musk’s government contracts, prompting Musk to discontinue SpaceX’s Dragon program.
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