Trump Shows Support for Musk Amid Struggles: “I’ll Buy a Tesla to Back Elon”

As Elon Musk Faces Challenges with Tesla, X, and SpaceX, President Trump Offers Public Endorsement, Promising to Purchase a Tesla in Solidarity with the Billionaire Entrepreneur

Elon Musk, the billionaire entrepreneur known for his ventures with Tesla, SpaceX, and X (formerly Twitter), has found himself in a storm of challenges as his companies face significant hurdles. From a plummeting stock price at Tesla to massive outages on X and multiple rocket failures at SpaceX, Musk’s troubles are mounting. Yet, even in the face of these difficulties, he’s found a public ally in none other than former President Donald Trump, who has pledged his support for the tech mogul in a time of crisis.

Tesla’s Struggles Amid Market Turmoil

On Monday, Tesla saw its stock price fall by an alarming 15%, wiping out the last of its post-Election Day gains. The decline comes as sales in Europe slump, partly due to intensifying competition and Musk’s increasing entanglement in politics. While Tesla’s ambitious goals of dominating the electric vehicle market seemed unstoppable in years past, the company now faces not only financial setbacks but also protests and violence against its vehicles and showrooms. Just earlier this month, a Tesla charging station in Boston was set on fire, and a Tesla dealership in Oregon was shot at. The unrest has even extended to individual Tesla owners, with reports of harassment on social media.

Musk has been quick to blame left-wing activists, including influential philanthropist George Soros, for the attacks, claiming they are part of a larger conspiracy against him. Trump, on his social media platform Truth Social, echoed Musk’s sentiments, claiming that radical leftists were working to “illegally and collusively boycott Tesla.” Trump’s comments add fuel to the narrative that Musk’s business challenges are being amplified by political forces.

Trump’s Public Endorsement of Musk

In a show of solidarity, Trump made a bold declaration on Truth Social, stating he would buy a Tesla to demonstrate his support for Musk. “Elon Musk is putting it on the line to help our Nation, and he is doing a FANTASTIC JOB! I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American,” Trump wrote.

Musk, who has increasingly aligned himself with Trump’s political circle, responded with a thank you post on X, further cementing the bond between the two. However, despite these public displays of support, the reality remains that Musk’s companies are in turmoil. Wedbush analyst Dan Ives stated that this is a “moment of truth” for Musk, urging him to focus on stabilizing Tesla, particularly as the company faces one of its most challenging periods since its founding.

X Faces Major Outage

Adding to Musk’s growing list of issues, X (formerly Twitter), which Musk purchased for a staggering $44 billion in 2022, faced a massive outage on Monday. Tens of thousands of reports flooded DownDetector, confirming that users were unable to access the platform for several hours. Musk attributed the issue to a “massive cyberattack,” claiming it was likely orchestrated by a coordinated group, possibly even a state actor.

Cybersecurity experts, however, have been cautious in attributing the incident solely to a cyberattack. Eric Noonan, CEO of CyberSheath, suggested that it may be premature to draw conclusions about the cause, given the limited information available at the moment. Despite these setbacks, Musk remains optimistic, reassuring his followers that X will be fine in the long term.

SpaceX Rockets Explode Amidst Ambitious Goals

SpaceX, Musk’s aerospace venture, is also reeling from a series of setbacks. The company’s Starship rocket, one of the most ambitious space projects in history, has suffered two major failures, with both launches ending in dramatic explosions. The most recent failure, which occurred on Thursday, sent debris flying for miles and even caused flight disruptions. Musk, known for his resilience, brushed off the setbacks, describing them as “minor” and expressing confidence that the next rocket will be ready in 4 to 6 weeks.

The Federal Aviation Authority is currently investigating the failures, but Musk remains undeterred. “Progress is measured by time,” he wrote, maintaining his focus on SpaceX’s long-term goals despite the immediate setbacks.

Musk’s Balancing Act: Politics vs. Business

As Musk grapples with the challenges facing his companies, he also finds himself deeply involved in political circles, particularly within the Trump administration. Musk’s recent appointment to the Department of Government Efficiency has placed him at the forefront of the government’s efforts to combat fraud, with both supporters and critics weighing in on his role. Musk has admitted that running his companies while also serving in a political capacity is a difficult balancing act.

In an interview with Fox News, Musk acknowledged the strain, stating that he runs his companies “with great difficulty.” He also confirmed that he has been working up to 16 hours a day to manage his various responsibilities. However, analysts like Dan Ives are questioning Musk’s ability to maintain this balance, with some suggesting that his focus on politics may be detracting from his role as CEO of Tesla.

A Moment of Truth for Musk

With his fortune taking a major hit — Musk lost $29 billion in net worth on Monday alone — the pressure is on for the entrepreneur to get his companies back on track. Musk’s challenges serve as a reminder that even the most visionary leaders must grapple with the practicalities of running businesses, no matter their political connections or public support.

While Trump’s public endorsement may offer a moment of encouragement, Musk will need to address the pressing issues facing Tesla, X, and SpaceX if he hopes to regain his footing in an increasingly competitive and volatile market. For now, the future of Musk’s empire remains uncertain, and his ability to navigate these challenges will be closely watched by investors, fans, and critics alike.

As he faces a “moment of truth” in his career, Musk must decide whether to double down on his political endeavors or refocus on the companies that made him a household name. Only time will tell whether he can strike the right balance.