Elon Musk decides he’s had enough of spending his money on politics: “I’m going to do a lot less in the future”

It would appear that Elon Musk is second guessing his frontline political involvement. The richest man in the world was President Donald Trump’s largest single benefactor in his campaign to return to the White House.

The tech billionaire forked out at least a quarter billion during the 2024 election cycle and millions more on a Wisconsin Supreme Court race backing the Republican candidate who lost. However, he said on Monday speaking via videoconference at a Bloomberg forum that he’ll be spending “a lot less” in the foreseeable future.

Elon Musk: “I’m going to do a lot less in the future”

Musk was asked during the Qatar Economic Forum by the Bloomberg host Mishal Husain whether he was planning to spend a lot more money on the midterm elections. “In terms of political spending, I’m going to do a lot less in the future,” the billionaire responded.

When asked why that was, he said: “I think I’ve done enough.” His response got a solid laugh out of the audience.

He was then questioned about his reasoning for his change of heart and whether it had anything to do with “blowback” that he’s experienced. “Well, if I see a reason to do political spending in the future, I will do it,” Musk said, adding, “I don’t currently see a reason.”

His financial largesse was mainly heaped upon Trump through the America PAC, a super political action committee to which Musk was the main contributor. The America PAC bought advertising and hired people to door-to-door canvass across the seven swing states that were most competitive.

Trump ended up appointing the billionaire to head up efforts at the Department of Government Efficiency (DOGE), a government agency to cut costs that was Musk’s brainchild, and even gave him an office in the West Wing.

However, the chaotic, massive slashing of government programs and federal workforce made him a lightning rod and focus of protests over what DOGE and the Trump administration was doing. His company Tesla, which he derives the majority of his wealth from, saw its share value plummet as the brand became associated with the effort as well.

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