Trump Purchases Tesla Model S at White House Event, Sparks Ethics Concerns as Stock Rises

President Donald Trump has purchased a Tesla Model S, priced at around $80,000, to publicly support Elon Musk amid a significant decline in Tesla's stock value and widespread protests against the company. The event took place on the South Lawn of the White House, where Trump inspected several Tesla models, including the Cybertruck, before choosing a red Model S. He emphasized his support for Musk, whom he described as a 'great patriot,' and noted that Musk's son was present during the event. Trump stated he would pay the full price for the vehicle and not accept a discount. Tesla has been facing challenges, with its stock plummeting by 45% since the beginning of 2025, and a further 15% drop on March 10. This decline is attributed to backlash against Musk's role in the Trump administration's Department of Government Efficiency (DOGE), where he has been pushing for federal job cuts and government spending reductions. The Tesla Model S features a video game system, adding to its appeal. The purchase has sparked controversy, with ethics experts questioning the propriety of using the White House for what appears to be a product endorsement. Trump's move is seen as a political gesture to bolster Musk, whose company has been the target of vandalism and protests due to his political affiliations and actions within the government. Following the event, Tesla's stock rose nearly 4%, although Trump is barred from driving the vehicle himself due to Secret Service regulations.