President Donald Trump on Tuesday urged the Department of Government Efficiency (DOGE) to investigate subsidies received by Elon Musk’s companies, claiming it could save the US “a FORTUNE.”
Musk fired back on X, saying, “CUT IT ALL. Now.”
Trump’s comments followed Musk’s renewed criticism of the recent spending bill, calling it “insane and destructive.”
Musk’s companies, including SpaceX and Starlink, have secured around $22 billion in federal contracts, according to Reuters.
The feud triggered market turbulence—Tesla lost $150 billion in market value on June 5, its worst single-day decline ever. Republicans now worry the Trump-Musk conflict may impact their chances in the 2026 midterms.