“Trillion-Dollar Trucking Empire’s Turbulent Road to Redemption: Nikola’s Trevor Milton Receives Shocking Reprieve in Securities Fraud Case” In a stunning turn of events, Nikola Corporation’s embattled CEO, Trevor Milton, is embarking on a path to vindication after a bombshell revelation: he claims to have received a presidential pardon from Donald Trump in connection with the ongoing securities fraud case against him. The 2021 indictment, launched by the Securities and Exchange Commission (SEC), accused Milton of orchestrating a massive scheme to artificially inflate Nikola’s stock price. The drama surrounding Milton’s presidency has been nothing short of tumultuous, with the once-celebrated CEO facing mounting scrutiny over the financial health of his company. Now, as the stakes reach a fever pitch, Milton’s assertion of a pardon has sent shockwaves through the business world, raising questions about the limits of executive power and the lengths to which those in power will go to escape accountability.
Trevor Milton’s Rise and Fall: The Nikola Story
Early Life and Education
Trevor Milton, the founder of Nikola Corporation, was born in 1982 in Layton, Utah, to a family with strong entrepreneurial roots. His father, William L. Milton, was a manager at Union Pacific Railroad, while his mother, Sallie Gwyn Hunt Milton, was a realtor.
Milton’s family moved to Las Vegas when he was a toddler and later relocated to Kanab, Utah, when he was eight years old. At the age of 15, Milton lost his mother to cancer, which had a profound impact on his life and shaped his future endeavors.
Milton is a member of The Church of Jesus Christ of Latter-day Saints (LDS) and attended Utah Valley University before dropping out to focus on business ventures. He later completed a two-year LDS mission in Brazil, where he developed his language skills and business acumen.
Despite facing health issues, Milton persevered and pursued his business goals, eventually becoming one of the most successful entrepreneurs in the electric vehicle industry.
Personal Struggles and Resilience
Milton’s personal struggles and resilience played a significant role in his success. At a young age, he had to overcome the loss of his mother and later returned from his LDS mission due to health issues.
However, these challenges did not deter Milton from pursuing his business goals. Instead, they fueled his determination to succeed and build a successful company.
Milton’s personal story serves as an inspiration to many, demonstrating that with hard work and perseverance, anyone can overcome obstacles and achieve their goals.
Career and Business Ventures
Early Business Ventures and Failures
Milton’s entrepreneurial journey began with the launch of St. George Security and Alarm, an alarm sales company that eventually dissolved. He then founded dHybrid, Inc., a natural gas alternative energy company that struggled financially.
Despite these early failures, Milton learned valuable lessons and used them to inform his future business ventures. He eventually founded dHybrid Systems, a company focused on natural gas storage systems for heavy-duty trucks, which was later acquired by Worthington Industries.
Nikola Motor Company and Electric Trucks
In 2015, Milton founded Nikola Motor Company, initially known as Bluegentech, with an initial investment of $2 million from Worthington Industries. Inspired by Nikola Tesla, Milton aimed to revolutionize the commercial trucking industry by developing hydrogen-electric and battery-electric semi-trucks.
Nikola introduced several prototype models, including the Nikola One, a hydrogen-electric semi-truck designed for long-haul transportation. The company later expanded its lineup to include models such as the Nikola Two, targeted at regional transport, and the Nikola Tre, developed in collaboration with European partner Iveco to cater to the European market.
In addition to vehicle development, Milton led a plan to establish a nationwide network of hydrogen fuelling stations in collaboration with Nel Hydrogen.
Notable Milestones and Funding
In 2020, Nikola went public through a reverse merger with VectoIQ, a special purpose acquisition company (SPAC), achieving a valuation of approximately $12 billion. Following the merger, Milton became executive chairman of the board and turned over the CEO role to Mark Russell.
By June 2020, the shares had more than doubled in selling price since they began trading, as investors continued to bet on the growth potential of electric transportation. At its peak in June 2020, Nikola’s market capitalization reached nearly $30 billion, briefly surpassing Ford, which elevated Milton’s net worth to approximately $12 billion, given his ownership stake.
Trevor Milton’s Downfall and Trump’s Pardon
Conviction and Imprisonment
However, Milton’s success was short-lived. In 2022, he was found guilty of securities and wire fraud, resulting in a four-year prison sentence and a $1 million fine. He remained free on bail while appealing his sentence.
Milton’s conviction and imprisonment marked a significant downfall for the entrepreneur, who had once been hailed as a pioneer in the electric vehicle industry.
Trump’s Pardon
In March 2025, Milton claimed that he had been given a full pardon by President Donald Trump. However, the details of the pardon and its implications for Milton’s future remain unclear.
The pardon has sparked widespread debate and speculation, with some hailing it as a victory for the entrepreneur and others questioning the motivations behind it.
The pardon has also raised questions about the justice system and the treatment of high-profile defendants, with some arguing that it sets a dangerous precedent and others seeing it as a necessary step to restore justice.
The Rise of Nikola Corporation
In 2020, Nikola Corporation went public through a reverse merger with VectoIQ, a special purpose acquisition company (SPAC), achieving a valuation of approximately $12 billion. This deal marked a significant milestone for the company, founded by Trevor Milton in 2015. Following the merger, Milton became the executive chairman of the board, and Mark Russell took over as CEO.
By June 2020, Nikola’s shares had more than doubled in selling price since they began trading, as investors continued to bet on the growth potential of electric transportation. At its peak in June 2020, Nikola’s market capitalization reached nearly $30 billion, briefly surpassing Ford, which elevated Milton’s net worth to approximately $12 billion, given his ownership stake.
The Securities Fraud Case and Pardon
Conviction and Sentence
In 2022, Trevor Milton was found guilty of securities and wire fraud, resulting in a four-year prison sentence and a $1 million fine. He remained free on bail while appealing his sentence.
Claim of Presidential Pardon
In March 2025, Milton claimed to have received a full pardon from President Donald Trump. This claim has significant implications for Milton’s past business dealings and reputation. If true, it raises questions about the extent of Trump’s involvement in Nikola’s business and the potential conflicts of interest.
Analysis and Implications
Market Reaction to Milton’s Pardon Claim
The market’s reaction to Milton’s pardon claim will be closely watched, as it could have a significant impact on Nikola’s stock price and market value. Regulatory scrutiny and potential investigations into Milton’s past business practices may also be triggered by this claim.
Implications for Trump’s Legacy and Business Ties
The pardon claim also raises questions about Trump’s legacy and business relationships. If Trump did indeed pardon Milton, it may be seen as a favor to a business associate, potentially damaging Trump’s reputation and legacy.
Broader Implications for Corporate Accountability
The Nikola case highlights the importance of corporate accountability and regulatory oversight. It may lead to calls for reforms and changes in corporate governance to prevent similar cases of fraud and abuse of power in the future.
Conclusion
In a shocking turn of events, Nikola founder Trevor Milton has revealed that he received a presidential pardon from Donald Trump in connection with the company’s securities fraud case. According to reports, Milton was charged with overstating Nikola’s electric truck sales and making false statements to investors. The news raises significant questions about the limits of executive power and the accountability of high-profile individuals.
The implications of this pardon are far-reaching, and they have the potential to undermine public trust in the regulatory system. If a high-profile CEO like Trevor Milton can avoid accountability for their actions, it sends a concerning message about the ability of regulators to hold individuals in power accountable. Furthermore, the pardon may also embolden other executives and individuals to engage in similar misconduct, as they may believe that they are shielded from consequences.
As the public continues to grapple with the implications of this pardon, it is essential to hold those in power accountable for their actions. The pardon of Trevor Milton serves as a stark reminder that the line between executive privilege and accountability can be thin, and it is up to us to demand greater transparency and accountability from those who wield power. Ultimately, the pardon of Nikola’s CEO is a stark reminder that the buck stops with one person – and it’s time we demand that those in power do the same.