Photo: Justin Merriman/Bloomberg/Getty Images
Despite suggesting on Truth Social this past weekend that he’d like Americans to “shut up” about the price of eggs, Donald Trump is actually very concerned about Americans’ economic problems — or at least, the plight of one specific South African–born Canadian American businessman.
The U.S. stock market cratered on Monday amid concerns about both the impact of Trump’s chaotic trade war and the president refusing to rule out a recession this year. Trump has yet to say anything to ally these concerns (in fact, he announced additional tariffs on Canadian steel and aluminum on Tuesday). But the president did offer his support to Elon Musk after shares in Tesla, his electric-car company, dropped more than 15 percent on Monday.
Tesla shares have plunged more than 50 percent from a mid-December peak as the DOGE chief’s political antics impacted the brand. Tesla sales have been falling in the U.S. and Europe, including a 76 percent decline in Tesla sales in Germany where Musk has endorsed a far-right political party. In recent weeks acts of vandalism have been reported against Tesla vehicles, dealerships, and charging stations, and there have been protests against Musk’s drastic cuts to the federal government at Tesla dealerships across the U.S.
So early on Tuesday morning, Trump tried to do his part by claiming, “I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk.”
(There is no evidence that Trump has followed through on this pledge, and he’s generally no fan of electric vehicles or driving himself.)
A few hours earlier, Sean Hannity announced (while chatting with Lara Trump, First Daughter–in–Law/Fox News anchor) that he, too, will buy a Tesla to help out poor Elon. “Maybe it’s just a gesture on my part, and I like new technology, but it’s just a way of saying, ‘Look what they’re doing to this guy,’” the Fox host explained.
To be clear, Musk is not literally poor in any way. He remains the world’s richest man, though his net worth has dropped by $132 billion in 2025, or more than 30 percent as of March 10, according to the Bloomberg Billionaires Index.
But Americans should still take heed of Trump’s Truth Social post, if not for their concerns for Musk’s billions, then for the president’s complaint that the “Radical Left Lunatics” are “trying to illegally and collusively boycott Tesla.” Declining to buy a Tesla isn’t currently against the law, but you might want to adjust your finances just in case that changes. A new Cybertruck costs around $80,000, so between that, skyrocketing egg prices, and the potential recession, you’d better start saving.
