Musk Signals Pullback From Political Spending: ‘I’ve Done Enough’

The billionaire entrepreneur says he may return if needed and that he’ll remain Tesla CEO for at least five more years.

Elon Musk holds a check for $1 million dollars to Nicholas Jacobs, chairman of the Wisconsin College Republicans, at a town hall in Green Bay, Wis., on March 30, 2025. Jeffrey Phelps/AP Photo

Elon Musk has signaled plans to scale back his political involvement, telling attendees at Bloomberg’s Qatar Economic Forum on May 20 that he intends to sharply reduce his political spending—though he left the door open to future contributions if he deems the cause compelling.

Musk, who poured nearly $300 million into supporting President Donald Trump’s 2024 campaign and those of other Republican candidates, said he would “do a lot less” political spending in the future. When asked why, he replied: “I think I’ve done enough.”