US President Donald Trump on Tuesday (Monday night in US) hit back at billionaire Elon Musk warning that without subsidies from the American government, the Tesla CEO would "probably headback home to South Africa.

In a post on Truth Social, Trump said, "Elon Musk knew, long before he so strongly Endorsed me for President, that I was strongly against the EV Mandate. It is ridiculous, and was always a major part of my campaign. Electric cars are fine, but not everyone should be forced to own one.

"Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa. No more Rocket launches, Satelites, or Electric Car Production, and our Country would save a FORTUNE, Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!" Trump added.

Tesla stock sank over 6% in overnight trading.

Musk said "Cut It All. Now", in response to Trump post saying DOGE should look at subsidies Musk's companies receive.

Musk also siad “What’s The Point Of A Debt Ceiling If We Keep Raising It?“

This comes after Musk strongly doubled down on his distaste for president Trump's "big, beautiful bill,"calling it "political suicide for the Republican Party."

Musk also threatened to launch a new political party if the bill gets passed in the us Senate. "If this insane spending bill passes, the America Party will be formed the next day. Our country needs analternative to the Democrat-Republican uniparty so that the people actually have a VOICE," he said inanother post.