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Trump Says He’ll Buy a Tesla to Help Musk
Posted
March 11, 2025
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March 11, 2025
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2:59Now PlayingUS President Donald Trump said he’ll buy a new Tesla to support Elon Musk, after shares of the electric-car maker had their worst day in four years amid a growing backlash over Musk’s political allegiances.
In a post just after midnight in Washington, Trump said he’ll buy a new Tesla Tuesday morning as a “show of confidence and support for Elon Musk, a truly great American. Why should he be punished for putting his tremendous skills to work in order to help MAKE AMERICA GREAT AGAIN???” Trump didn’t specify which Tesla model he would buy.
Musk, who spent more than $250 million to help elect Trump and other Republicans and is now the face of the president’s efforts to cut the size of the US government, responded with a simple “Thank you.”
In addition to disruptions related to changing over its most important model to a new design, blowback against Musk, who is Tesla’s chief executive officer, is hurting the automaker’s standing in some of the world’s biggest EV markets. In Germany, for instance, registrations plummeted 70% during the first two months of the year as Musk endorsed the far-right Alternative for Germany in the months leading up to the Feb. 23 election.
Meanwhile, Musk’s net worth has dropped by more than $130 billion since January, according to the Bloomberg Billionaires Index.
Musk was asked earlier Monday how he was running his other businesses while focusing on DOGE, in an interview with former Trump adviser Larry Kudlow on Fox Business. The world’s richest man responded: “with great difficulty.”
Barry Ritholtz, host of Bloomberg's "Masters in Business" podcast, expresses his dismay that Tesla bull and Wedbush Securities analyst Dan Ives is only now calling for the Tesla CEO to "step up" and lead the EV giant instead of focusing on his work with the Trump administration and DOGE. Barry speaks with Tom Keene and Paul Sweeney on Bloomberg Radio.
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