ADGM Reports 33% Year-over-Year Growth in Assets Under Management for Q1

In a sign of the deteriorating relationship between Donald Trump and Elon Musk, the former U.S. president is considering selling or gifting a red Tesla that he purchased to demonstrate his support for the billionaire amid protests surrounding the company.

This electric vehicle, which remains parked in the White House yard, became a symbol of their peak relationship during a rather unusual event in March when Trump transformed the White House into a Tesla showroom.

In response to a question about whether Trump would sell or donate the car, a senior White House official confirmed, “Yes, President Donald Trump is thinking about it.”

A significant dispute arose between Trump and Musk, leading to a heated exchange of insults, with Trump labeling Musk as “crazy” and threatening to terminate government contracts.

On Thursday, in the Oval Office, Trump expressed “great disappointment” in Musk due to his criticism of a tax bill that the president had signed, suggesting that Musk was prioritizing his business interests.

In a subsequent social media post, Trump stated that Musk, who is frustrated by the current tax legislation pending in the Senate—which could increase the U.S. deficit—was “draining his powers” and had “requested him to leave” the government.

Musk, the CEO of Tesla, also remarked that the president, who had supported him with over $250 million during the last presidential campaign, was lying about the reasons for opposing the new spending proposals from the administration.

Trump had previously claimed that Musk was dissatisfied with the “big beautiful bill” because it would end the policies that restrict Tesla.

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