Trump Softens Tone on Elon Musk, Tesla Stock Rises

U.S. President Donald Trump struck a more neutral tone toward Tesla (NASDAQ:TSLA) CEO Elon Musk during a press conference on Monday, following last week’s heated public exchange between the two. The shift in rhetoric appeared to boost investor confidence, with Tesla shares closing 4.6% higher.

Trump confirmed he would keep his Tesla Model S but suggested relocating it. He also praised Musk’s Starlink service, calling it a “great service,” and said he wishes Musk “well, very well.”

When questioned about rumors of Musk using drugs at the White House, Trump responded that he did not know but hoped it wasn’t true. He added that Musk may want to reconnect, but Trump isn’t sure whether the tech billionaire has tried calling him.

The fallout between the two began last week when Musk slammed Trump’s “Big Beautiful Bill” as an “abomination,” citing concerns over its impact on the national debt. Trump responded by saying Musk opposed the bill because it repealed electric vehicle (EV) mandates, potentially harming Tesla’s business. Musk refuted the claim, accusing Trump of “lying.”

Tensions escalated as Trump threatened to revoke Musk’s government contracts. In response, Musk pushed back, suggesting he might terminate SpaceX’s Dragon program.

Despite the public spat, Trump’s latest comments seem to signal a possible de-escalation. Market watchers viewed the softer tone as a positive signal for Tesla, contributing to the stock’s strong finish.