Musk, who supported Trump's campaign and also served as an adviser to the White House, has criticized the tax and spending bill the president is pushing.

Billionaire’s political threats have not stopped the president’s ‘big, beautiful bill’ hurting the electric-car maker’s profits

In late May, Musk stepped down from DOGE and became a critic of Trump’s “big, beautiful bill,” claiming his opposition to it was because it would increase the budget deficit. Another scenario is Musk’s fear that the bill will remove electric vehicle tax credits, which would significantly hurt Tesla.