By reviewing the Teslas in public before cameras, Trump ensured that his purchase would get wide attention. Dan Scavino, a White House deputy chief of staff, livestreamed the event on X, the social media app owned by Musk. Trump said he would pay for the vehicle by check.

Kimbal Musk, the brother of Tesla CEO Elon Musk, has been offloading shares of Tesla in recent months just as the stock has made a massive retreat from all-time highs. The electric vehicle maker, however briefly, had been among the select group of trillion-dollar companies following the stock’s post-U.S. presidential election surge.