President Donald Trump on Thursday said the U.S. will not be pulling its subsidies of Elon Musk’s companies, despite earlier threats to do so and White House press secretary Karoline Leavitt’s Wednesday indication that the U.

Musk insisted that his companies are not receiving any special government subsidies, as he appeared to dismiss the chance for a potential detente in his feud with Trump.

President Trump said Thursday he has no interest in stripping Elon Musk-owned companies of billions in federal money — adding that he wants the former “first buddy” to “thrive.” “Everyone is stating that I will destroy Elon’s companies by taking away some,

What is going on in the feud? - From feuding to friends to feuding again, the relationship between the two billionaires has been turbulent, to say the least.

Elon Musk was referring to an earlier post by Donald Trump on Truth Social, which claimed that he wanted the Tesla CEO to “THRIVE”.

Donald Trump made it clear on Thursday that he won’t be pulling the plug on federal subsidies going to Elon Musk, even as tensions between the two remain high.

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Tesla shares fell 8.2 per cent on Friday and have declined by 24.9 per cent in the past six months. “Not small, this is massive, so what is happening here is Tesla shares have basically collapsed and so have its sales,” Mr Greenwood said.

Musk, who has been floating the idea of creating a third political party for weeks in the wake of his split with the president, reignited the push over the weekend after the passage of Trump's sweeping tax cut and spending bill -- which Musk railed against over its estimated impact adding trillions to the national debt.

About a month after President Donald Trump threatened Elon Musk’s government contracts, he has now reversed course in a message that surprised supporters and critics alike. The South African-born billionaire was an outspoken MAGA supporter and invested millions in Trump’s presidential campaign before their bitter breakup.