Trump Threatens Musk’s Billions — Says DOGE Should Probe Tesla and SpaceX

Divyanshi Seth
By Divyanshi Seth 4 Min Read

Donald Trump has escalated his fight with Elon Musk by calling for an official review of government help by DOGE that supports Tesla and SpaceX. On July 1, Trump posted a warning on Truth Social. He claimed Musk may have received more taxpayer money than any other person in U.S. history.

Trump Calls Out Musk’s Federal Support Investigated By DOGE
Source: Truth Social

Trump wrote that without these subsidies, Musk might need to shut down his companies and “head back home to South Africa.” He also said that cutting this support could save the country “a fortune.”

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DOGE Agency May Review Big Contracts

Trump now wants the Department of Government Efficiency — called DOGE — to examine how much public money backs Musk’s businesses. DOGE was launched in early 2025 to reduce waste and check federal spending. Its name refers to Dogecoin, the meme crypto both Trump and Musk once promoted online.

So far, DOGE has not confirmed any probe. The agency can make recommendations but cannot directly cancel federal contracts on its own. Large funding changes would need Congress or an executive order from the White House.

Tesla has received major government help since its early years. In 2010, Tesla got a $465 million loan from the U.S. Department of Energy to build its first electric cars. A 2015 study by Good Jobs First estimated that Tesla’s total subsidies — including federal tax credits and local factory deals — have topped $4.9 billion.

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SpaceX has also worked closely with NASA and the U.S. military. In 2023 alone, SpaceX earned about $20 billion in federal contracts for satellite launches and crew missions. Since 2008, SpaceX has signed deals worth over $15 billion in total with NASA and defense agencies.

Musk has said in the past that these funds help the U.S. lead in clean energy and space technology. He argues that the country benefits by staying ahead of China and other rivals.

Old Allies Now Public Enemies

Trump and Musk were allies during the 2024 election. Musk supported Trump after an assassination attempt and donated heavily to his campaign. Both men agreed to launch DOGE as a sign of cutting waste and boosting efficiency.

The split began when Musk turned against Trump’s “One Big Beautiful Bill.” The plan combines tax cuts, immigration reform, and crypto rules but could add more than $3 trillion to the national debt. Musk said the plan fails to control waste and could harm the U.S. economy.

In a post on X, Musk wrote that the debt ceiling exists to limit “waste and fraud” in Washington.

DOGE’s name is linked to Dogecoin, the meme coin that Musk made famous through posts and jokes in 2021. Tesla still holds Bitcoin on its balance sheet. The company also tested crypto payments for cars and energy products.

Dogecoin’s price has not moved much since Trump’s post, DOGE trades near $0.16 today. This is down from over $0.40 at the start of 2025 but still about 28% higher than a year ago. Trading volume shows no major spike.

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Doge/USD price chart. Source: COinMarketCap
DOGE/USD price chart. Source: CoinMarketCap

 

Divyanshi Crypto Journalist CoinChapter

Divyanshi Seth

Divyanshi Seth is a Crypto News Journalist at CoinChapter with a master’s degree in Journalism and Mass Communication. When the 2021 crypto rally made global headlines, her curiosity led her to research blockchain technology and digital assets. That interest evolved into a career, with a focus on BTC, XRP, ADA, Dogecoin, Shiba Inu. Over the past 3 years, she has authored more than 1,000 articles, focusing primarily on ADA, Dogecoin, Shiba Inu, XRP, and Bitcoin. Divyanshi holds Bitcoin and Solana.