Musk decided to cut spending on politics — he was previously the main sponsor of Trumpʼs campaign

American entrepreneur and billionaire Elon Musk said he plans to spend "significantly less" on political donations in the future. He was previously one of the main financial backers of the US President Donald Trumpʼs campaign.

He said this at the Economic Forum in Qatar, NBC News reports.

"Regarding political spending, I will do much less of it in the future," he said.

When asked why, Musk replied, "I think Iʼve done enough," while noting that he could still change his mind.

"If I see a reason for political spending, I will do it. I just donʼt see such a reason right now," he emphasized.

His words came as a surprise to Republicans preparing for the 2026 elections. In addition to helping Trump, on whose campaign he spent more than $250 million, Musk spent more than $19 million in the final weeks of the 2024 election cycle to support Republicans in the fight for the majority in Congress.

His America PAC was also a major donor to the Wisconsin Supreme Court election. Musk and his associates spent more than $13 million, but his candidate ultimately lost.

Since Trumpʼs re-election, Musk has become a regular visitor to Washington, appearing alongside the president and being the public face of DOGE, an initiative that seeks to dismantle a number of government structures.

But that presence has come at a price. Muskʼs controversial actions, his posts on X, and his large presence in the White House have led to a sharp decline in his popularity among Americans. According to polls, public opinion of Musk, his companies, and his products has deteriorated significantly since January.

The decline coincided with Teslaʼs market value plummeting in the two months after Musk joined the government — although the companyʼs stock has recently started to recover. Tesla cars and showrooms have also been targeted by vandalism and arson.

• In April, Elon Musk said he would significantly reduce the time he spends on the Donald Trump administration starting in May and focus more on running his many companies. He said he wants to spend about 40% of his time on DOGE.
• Recently, Musk has been gradually disappearing from the public space — Trump mentions him less and less in posts on the social network Truth Social, and the presidentʼs fundraising team has almost stopped sending emails mentioning the billionaire.

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