File photo of US President Donald Trump and Elon Musk speaking in the Oval Office. In a surprising about-face, US President Donald Trump has publicly reassured Elon Musk that his administration has no plans to withdraw federal subsidies from the tech billionaire’s companies. The statement, posted on Trump’s social media platform Truth Social, appears to mark a de-escalation after weeks of escalating tensions between the two influential figures. “Everyone is stating that I will destroy Elon’s companies by taking away some, if not all, of the large scale subsidies he receives from the US Government. This is not so!" Trump declared. Story continues below Advertisement Remove Ad He continued: “I want Elon, and all businesses within our Country, to THRIVE — in fact, THRIVE like never before! The better they do, the better the USA does, and that’s good for all of us." Ending on a note of characteristic optimism, Trump added, “We are setting records every day, and I want to keep it that way!" Trump’s message comes amid mounting scrutiny over federal dealings with Musk’s companies, especially xAI, the billionaire’s artificial intelligence firm. Earlier this week, White House Press Secretary Karoline Leavitt said she would “discuss the matter with the President” when asked whether Trump intended to cancel a recently awarded government contract to xAI. She also noted that she did not believe Trump supported federal agencies contracting with the firm. The President’s comments mark a significant reversal from his own earlier stance. Just last month, Trump suggested pulling the plug on federal support for Musk’s businesses. Related stories