Trump told reporters he would write a check for the car, which retails for roughly $80,000, and leave it at the White House so his staff can drive it. The president also said he hopes his purchase will boost Tesla,

Tesla is Musk’s biggest source of income — his stake was valued at $195 billion in 2024, per Forbes. Shares for the automotive company surged following the 2024 election, which pushed Musk’s net worth over the $400 billion mark.

SpaceX and Tesla — have submitted letters lobbying the U.S. trade representative on Trump administration tariff policies. The letters come as Musk oversees an effort to slash federal government spending and employee headcount at the behest of President Donald Trump.