Why Trump Makes A U-Turn On Musk And Wants 'Elon To Thrive Like Never Before'

US President Donald Trump clarified on Thursday that he wants Elon Musk and his companies to "thrive". He said he wanted all businesses within the US to "thrive like never before". This comes amid a fallout between them after the billionaire criticised Trump's massive tax and domestic policy bill. 

In a post on Truth Social, Trump addressed the controversy that he may revoke government support for Musk's companies - Tesla and SpaceX.

"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 wrote. "I want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before!" he said.

He explained how the success of Musk's companies can translate to national success. "The better they do, the better the USA does, and that's good for all of us," he said, adding that the country is "setting records every day," and he intends to maintain the current situation.

Earlier this month, Trump had dismissed Musk when he launched a new political outfit called the America Party, calling the move "ridiculous". 

"It's ridiculous to start a third party. We have tremendous success with the Republican Party. The Democrats have lost their way, but it's always been a two-party system. Third parties have never worked, so he can have fun with it, but I think it's ridiculous," Trump told reporters.

On Wednesday, Musk had warned his investors that there could be possible US cuts in support for electric vehicles and that could lead to "a few rough quarters" for the company.