Tesla remains Musk’s best-known business, but its fortunes are less directly tied to the government than SpaceX, his rocket-building company.

U.S. President Donald Trump on Tuesday threatened to cut off the billions of dollars in subsidies that Elon Musk's companies receive from the federal government, in an escalation of the war of words between the president and the world's richest man,

President Trump alluded to eliminating Elon Musk's subsidies after the Tesla CEO criticized the Republican reconciliation bill. Also, Federal Reserve Chair Jerome Powell continues to face pressure to lower interest rates.