President Donald Trump said he doesn't plan to remove subsidies for Elon Musk's companies, just weeks after suggesting that DOGE could investigate him.

President Donald Trump walked back his earlier attacks on Elon Musk and his companies. Trump said Musk's businesses would continue to enjoy federal subsidies. But Musk said the subsidies Trump was talking about "simply do not exist."

President Donald Trump said on Thursday he would not destroy Elon Musk's companies by taking away federal subsidies and that he wants the billionaire tech entrepreneur's businesses to thrive.

The timing was no coincidence. On July 3, Congress passed President Donald Trump’s signature legislation, the so-called “One Big Beautiful Bill,” a sweeping package that includes massive spending cuts, the end of clean energy subsidies, and controversial changes to social safety net programs. Trump signed the bill into law on July 4.

Elon Musk criticized Trump's revised spending bill, especially its impact on clean energy production, in multiple X posts over the weekend.

President Donald Trump refrained from criticizing Elon Musk in a Fox News interview on Sunday, calling him "wonderful" despite Musk's claims that Trump's Senate bill would cause "immense strategic harm" to America.