Trump Pledges to Buy Tesla in Support of Elon Musk Amid Stock Decline

Former President Donald Trump announced he would purchase a “brand new” Tesla to support Elon Musk, his senior adviser, as the electric carmaker’s stock took a significant hit in the market.

Taking to Truth Social early Tuesday, Trump praised Musk’s contributions, calling him a “fantastic” patriot who is “putting it on the line” for the country. He accused “Radical Left Lunatics” of attempting to “illegally and collusively” boycott Tesla to undermine Musk and his values.

“They tried to do it to me at the 2024 Presidential Ballot Box, but how did that work out?” Trump wrote. “I’m buying a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American.”

The statement comes as Trump faces increasing economic scrutiny following a steep market downturn, partly attributed to his decision to impose new tariffs on key U.S. trading partners.

Tesla’s stock plummeted 15.4% on Monday, closing at $222.15—its sharpest drop since September 2020. Analysts suggest Musk’s growing ties with Trump and his administration’s budget-cutting policies have alienated Tesla’s traditionally progressive investor base, contributing to the company’s financial struggles.

Despite ongoing protests at Tesla facilities, Musk dismissed concerns in a Fox Business interview, choosing instead to “look on the bright side.”