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Amid concerns of potential conflicts of interest, President Donald Trump responded to plummeting Tesla share prices on Tuesday by announcing he was buying one of the electric cars manufactured by close advisor Elon Musk. Speaking at the White House, which he briefly turned into a showroom, Trump also threatened "hell" for anti-Tesla protesters.
The unprecedented product endorsement by a sitting president for a company founded by his top donor comes after Tesla shares cratered amid market fears spurred by Trump's tariffs and backlash to Musk's controversial role in slashing the US government.
"I said, 'you know, Elon, I don't like what's happening to you, and Tesla's a great company,'" Trump said to reporters Tuesday while standing alongside Musk in front of a red Tesla sedan on the south portico of the White House.
"He has never asked me for a thing, and he's built this great company, and he shouldn't be penalized because he's a patriot," Trump continued.
Since returning to the White House in January, Trump has empowered Musk to slash federal government spending and headcounts as leader of the Department of Government Efficiency (DOGE). But DOGE's high-profile cost-cutting campaign has faced increasing resistance, including protests, court rulings and some pressure from lawmakers.
The turmoil has also tarnished the Tesla brand, with sales plummeting in Europe, share prices tumbling and multiple reports of cars being vandalized. Unhappy Tesla owners have even slapped bumper stickers on their vehicles claiming they had purchased them "before Elon went crazy." Trump warned of unspecified crackdowns on protesters.
Earlier on Tuesday, Trump had posted on his Truth Social platform his intent to buy a Tesla in support of Musk, promoting the vehicles to his followers. "To Republicans, Conservatives, and all great Americans, Elon Musk is 'putting it on the line' in order to help our Nation, and he is doing a FANTASTIC JOB!," Trump wrote.
"I'm going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American," his post continued.
Musk, the world's richest person, responded on his X platform, thanking the president. While Musk enjoys Trump's confidence, polling shows the tech billionaire is deeply unpopular among ordinary Americans, and his cuts to government budgets have sparked angry confrontations between Republicans and their constituents at town halls.
