Trump announces plans to buy Tesla in show of support for Elon Musk amid scrutiny

US President Donald Trump announced on March 11, 2025, that he will buy a “brand new Tesla” to show his support for Tesla CEO Elon Musk, who has been a major campaign donor and advisor. 

Trump expressed his admiration for Musk’s efforts in helping the nation, calling him a key figure in the effort to “Make America Great Again.” 

In a post on his Truth Social platform, Trump accused the “Radical Left Lunatics” of trying to harm both Musk and Tesla, claiming they were attempting to boycott the automaker.

Trump’s statement comes as Musk, who currently heads the Department of Government Efficiency (DOGE), has been leading a campaign to reduce federal government spending and agency workforces. 

However, Musk’s efforts have encountered significant pushback, including protests, court rulings, and pressure from lawmakers.

Tesla’s stock has recently suffered due to concerns about boycotts and backlash, with shares falling by more than 15 percent. 

This decline is also tied to the broader struggles of tech companies, as the Nasdaq index saw a 4 percent drop, partly driven by losses in high-profile stocks like Tesla.

Meanwhile, Musk, the world’s richest person, revealed that his social media platform X, formerly known as Twitter, was hit by a major cyberattack. This event has raised questions about the challenges Musk faces in balancing his business ventures while dealing with political controversy and public scrutiny.