Musk to step back from political spending: ‘I think I’ve done enough’

Elon Musk said he plans to cut back on political spending, saying he has “done enough,” a move that coincides with the billionaire entrepreneur taking a step back from President Donald Trump’s Washington.

Speaking at the Qatar Economic Forum on Tuesday, the Tesla CEO said he would “do a lot less” political spending “in the future,” adding: “I think I've done enough.”

Musk brushed aside a question about whether his move was a response to pushback he has received for his prominent role in reshaping the federal government, marked by his leadership of the agency-slashing Department of Government Efficiency.

“If I see a reason to do political spending in the future, I will do it. I don't currently see a reason,” he said.

Musk, who poured over $290 million of his own money into the 2024 election to support Trump and Republicans, had established himself as a major political force. He also sought to influence state-wide elections, including a key Wisconsin Supreme Court race last month.