The State Department had been in talks with Elon Musk's Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400-million purchase.

The case is a reminder of how much of Musk’s wealth comes from taxpayers. His companies have government contracts worth hundreds of millions of dollars a year.

Tesla’s financial tale, however, has taken a turn since Trump took the oath of office with Tesla stock down over 17% since Jan. 21, as of midday Friday. Just weeks before the inauguration, Tesla reported the first full-year drop in global sales in its history as a public company, according to a report from CNN.