Elon Musk said he plans to pull back on his political spending after flowing millions of dollars into the 2024 presidential election and other campaigns.
Musk said during a discussion at the Qatar Economic Forum on Tuesday that he made his decision because he feels “I’ve done enough” but left the door open to future spending..
“In terms of political spending, I’m going to do a lot less in the future,” the Tesla CEO said.
“If I see a reason to do political spending in the future, I will do it,” he added. “I do not currently see a reason.”
Musk has been one of the dominant forces in U.S. politics over the past year, with filings showing that he spent at least $250 million to help get President Trump elected to a second term, including three contributions of $25 million in the final two weeks of October.
Since Trump took office, Musk has led the Department of Government Efficiency as it has pushed for widespread layoffs and spending cuts across government agencies and departments.
But he’s also been a source of significant political pushback and a rallying point for Democrats seeking to oppose the Trump administration’s agenda.
Musk’s America PAC spent $12 million to support conservative Brad Schimel against liberal Susan Crawford in the Wisconsin state Supreme Court race in April, but supporters of Crawford rallied around opposition to Musk and Crawford comfortably won the race.
Musk’s time serving in the Trump administration is also coming to an end shortly as he has been a “special government employee” that allowed him to serve in his role for 130 days. He’s indicated his plans to leave at the end of that span, which comes at the end of this month.
If Musk truly does pull back his spending heading into the 2026 midterms, it could be an additional challenge for the Trump administration seeking to hold onto control of the House in the midterm elections.
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