President Donald Trump has announced that he is buying a ‘brand new Tesla’ to support his ‘first buddy’ during a financial loss.
Elon Musk has taken a hit to his net worth as Tesla stocks continue to plummet.
The billionaire has taken center stage of the Trump administration in recent weeks after taking on the role of head of the Department of Government Efficiency (DOGE).
Advert
While not technically a government department, DOGE is purported to act as an outside advisor to the president on federal spending.
However, controversy surrounding Musk’s new role in government has led to protests and boycotts of the Tesla brand.
Now, Trump has revealed that he is personally supporting Musk by purchasing a Tesla.
Taking to Truth Social, the president wrote: “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!
Advert
“But the Radical Left Lunatics, as they often do, are trying to illegally and collusively boycott Tesla, one of the World’s great automakers, and Elon’s ‘baby,’ in order to attack and do harm to Elon, and everything he stands for.”
Trump went on to claim that he has plans to buy a Tesla of his own in the morning as a ‘show of confidence’ in his advisor.
Trump went on to write: “In any event, 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.
“Why should he be punished for putting his tremendous skills to work in order to help MAKE AMERICA GREAT AGAIN???”
Advert
It has not yet been revealed which model of Tesla the president intends to purchase.
According to a report by Entrepreneur, Tesla share prices have dropped from $404 to $263 in this year alone
And this dip may be a result of Musk’s close proximity to the Trump administration.
Advert
Wedbush analyst Dan Ives said, as per Barrons: “While the DOGE/Trump Musk iron-clad partnership has created major brand worries for Tesla … we estimate less than five percent of Tesla sales globally are at risk from these issues.
“We expect Musk will better balance his time between DOGE and Tesla/SpaceX over the course of 2025.”
Although, Tesla shareholders have been publicly venting their thoughts on the billionaire now splitting his time between various job roles.
One shareholder even demanded on X, formerly Twitter, that Musk share ‘five things he’s done for them this week’.
Advert
The jibe appeared to use Musk’s own words against him as it referenced a controversial email sent out by the Department of Government Efficiency (DOGE) which demanded federal employees justify their paychecks.