Trump's comments come after Musk, the world's richest man, renewed his criticism on Monday of Trump's sweeping tax cut and spending bill, vowing to unseat lawmakers who backed it after campaigning on limiting government spending.

"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, Satellites, 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 said in a post on Truth Social.

In response to Trump's post, Musk, on his own social media platform X, said "I am literally saying CUT IT ALL. Now."

Trump previously threatened to cut Musk's government subsidies and contracts when their relationship dissolved into an all-out brawl on social media in early June over the bill, which non-partisan analysts have said would add about $3 trillion to the US debt.

Musk's businesses include rocket company and government contractor SpaceX, which has about $22 billion in federal contracts, and its satellite unit Starlink.

His rift with Trump also caused volatility for Tesla, with shares of the electric car company losing about $150 billion of its market value on June 5, the largest single-day decline in the company's history, though it has since recovered.

Tesla shares trading in Frankfurt tumbled 5% on Tuesday.

--Reuters--