Early life
Trevor Robert Milton was born on April 6, 1982, in Layton, Utah, to William L. Milton, a manager at Union Pacific Railroad, and Sallie Gwyn Hunt Milton, a realtor. He has one brother named Travis Milton and three sisters. His family moved to Las Vegas when he was a toddler and later relocated to Kanab, Utah, when he was eight. When he was 15, his mother died from cancer.
Milton is a member of the Church of Jesus Christ of Latter-day Saints (LDS). After graduating high school, he went on an LDS mission to Brazil, where he learned to speak Portuguese. He returned early after 18 months due to health issues. He later enrolled at Utah Valley University but dropped out after one semester and then moved to the city of St. George, Utah.
After leaving college, Milton started an alarm sales company called St. George Security and Alarm. He eventually exited the business and founded an alternative energy vehicle company called dHybrid, Inc. which retrofitted commercial trucks with engines that could run on natural gas instead of diesel. Disputes with investors eventually led to the dissolution of dHybrid, after which Milton launched dHybrid Systems in 2012. This company focused on natural gas storage systems for heavy-duty trucks and was later acquired by Worthington Industries.
Rise
In 2015, Milton founded Nikola Motor Company in Salt Lake City, 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 to provide sustainable and zero-emission alternatives to traditional diesel-powered vehicles. The company was rebranded as Nikola Motor Company to reflect this vision and Milton served as the CEO in Nikola’s early years.
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.
In 2020, Nikola went public through a reverse merger with a special purpose acquisition company. Milton resigned as executive chairman of Nikola following regulatory inquiries. His leadership had driven the company’s rapid ascent in the electric vehicle space, drawing significant attention from investors and media alike as it positioned itself as a competitor to established truck manufacturers.
Peak
At its height, Nikola Corporation achieved a market valuation that exceeded tens of billions of dollars, fueled by investor enthusiasm for its vision of zero-emission trucking. Milton became a prominent figure in business and technology circles, frequently appearing in media interviews and industry events to promote the company’s hydrogen and battery-electric truck prototypes. His vision attracted partnerships with major corporations, including agreements with Anheuser-Busch and other fleet operators for future vehicle purchases.
The company’s public debut via SPAC merger in 2020 marked a milestone in Milton’s career, validating years of effort to build Nikola from a startup into a publicly traded entity. During this period, Milton remained deeply involved in product development and strategic direction, overseeing advancements in hydrogen fuel cell technology and battery systems intended for long-haul and regional trucking applications.
Milton’s personal wealth grew substantially alongside Nikola’s rising valuation, and he became known for his ambitious public statements about the company’s technological progress and future production timelines. His leadership style was characterized by bold vision and aggressive promotion of Nikola’s mission to disrupt the diesel trucking industry.
Turning point
In 2020, Milton resigned as executive chairman of Nikola following regulatory inquiries. Investigations by the Securities and Exchange Commission and the Department of Justice were initiated concerning allegations about the accuracy of Milton’s public statements regarding Nikola’s technological capabilities and business progress. These inquiries focused on claims made about the functionality of Nikola’s hydrogen-electric trucks and the status of its development milestones.
In 2022, he was found guilty of securities and wire fraud. He was sentenced to four years in prison, a US$1 million fine and $168 million in restitution. The conviction stemmed from a federal jury trial in which prosecutors presented evidence that Milton had made false and misleading statements to investors about Nikola’s technological achievements, including claims about a working hydrogen-electric truck prototype that prosecutors alleged did not exist as described.
The guilty verdict represented a dramatic reversal of fortune for Milton, transforming him from a celebrated entrepreneur into a convicted felon. The case highlighted tensions between entrepreneurial promotion and legal obligations to provide accurate information to investors in publicly traded companies.
Legacy/aftermath
Milton and his wife donated more than $3.2 million to Donald Trump’s 2024 presidential campaign and figures in Trump’s orbit. In March 2025, he was given a full pardon by President Donald Trump. As a result of the pardon, Milton will not need to compensate Nikola shareholders, who lost tens of millions of dollars.
In September 2025, the SEC under the second Donald Trump administration dropped civil enforcement cases against Milton. As a consequence, Milton will not have to pay any civil penalties or face job restrictions, allowing him to work in security-related positions.
In 2025, he became CEO of SyberJet Aircraft, a Utah-based aviation company developing the SJ30 and SJ36 business jets. The company is staffed by dozens of former Nikola Corporation employees.
Wider significance
The Trevor Milton case stands as a significant example in the history of American entrepreneurship and securities regulation, illustrating the risks that arise when ambitious technological visions are communicated to investors without sufficient substantiation. His rise and fall contributed to broader discussions about accountability in the electric vehicle and clean technology sectors, where hype and innovation often intersect.
The subsequent pardon and dismissal of civil actions by federal authorities under a different administration underscore how political shifts can influence legal outcomes for high-profile figures. Milton’s transition to leading SyberJet Aircraft, employing many former Nikola colleagues, demonstrates the persistence of professional networks and the potential for rehabilitation and reemployment even after serious legal consequences.
His story remains a cautionary tale about the responsibilities of corporate leadership, particularly in emerging industries where technological claims can be difficult to verify, and the importance of aligning public statements with verifiable progress to maintain investor trust and comply with federal securities laws.
Sources
https://en.wikipedia.org/wiki/Trevor_Milton | https://www.wsj.com/video/series/on-the-news/nikola-founder-trevor-milton-details-call-with-trump-ahead-of-pardon/D5E29DCA-698D-45C4-80C6-D51A759A0A0F
