CELEBRITY
“Tesla’s Troubles: Trump’s White House Visit Can’t Save Musk’s Sinking Stock!”
As Tesla’s bottom line continues to slide downward, Elon Musk on Tuesday received maybe an unsurprising endorsement from a potential new owner of one of his EVs: President Donald Trump.
Musk, joined by his 4-year-old son X, delivered three Tesla models, including a Cybertruck, to the White House Tuesday afternoon, just hours after Trump, who does not currently drive, vowed to buy one to support Musk.
“I just want people to know that you can’t be penalized for being a patriot,” Trump told reporters during a photo op with the cars and Musk. “People should be going wild, and they love the product.”
The president got into the seat of one the cars and claimed that he was going to buy one of the cars and leave it at the White House for his staff to use.
“I’m going to let people at the place use it, and they are all excited about that I’m not allowed to use it,” he said.
Trump’s announcement came as Tesla has been taking a massive hit over the last two months, including recent protests and slumping sales overseas.
Stock in the company has dropped every week since Musk went to Washington, wiping out more than $700 billion in market value. And Musk’s personal net worth has dropped $148 billion since Inauguration Day, according to the Bloomberg Billionaire Index.
“This means a lot, and also thank everyone out there who is supporting Tesla,” Musk said.
Trump previously criticized EVs, claiming that they are too costly, inefficient and not in demand.
However, he admitted in August on the campaign trail that he had to change his tune after Musk endorsed his candidacy.
I’m for electric cars. I have to be because Elon endorsed me very strongly,” he told a crowd at a rally.
However, since taking office Trump has vowed to end federal incentives for EV purchases and signed an executive order that undid President Joe Biden’s goal to have half of all cars sold in 2030 be an EV.
It is an unspoken rule that current and former presidents aren’t allowed to drive on open roads
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