Elon Musk, the world’s richest person and a key political donor in recent years, announced on Tuesday that he intends to scale back his political contributions moving forward. Speaking at the Qatar Economic Forum in a video interview with Bloomberg News, the Tesla and SpaceX CEO said, “I think, in terms of political spending, I’m going to do a lot less in the future.” When asked why, Musk added dryly, “I think I’ve done enough,” sparking laughter from the audience—though his sincerity was unclear.
Musk’s remarks follow a year in which he reportedly spent nearly $300 million backing Donald Trump’s re-election campaign and various Republican causes. His political activities, including his controversial “department of government efficiency” (Doge), have drawn backlash globally, negatively impacting Tesla’s public image and sales.
Despite evading direct questions on whether the criticism influenced his decision, Musk suggested his position could change: “If I see a reason to do political spending in the future, I will do it. I do not currently see a reason.”
His large donation to a Wisconsin Supreme Court race earlier this year, which ended in defeat for his candidate, further highlighted growing discomfort within the GOP over Musk’s political presence.
Musk also used the Qatar forum to take aim at critics, including Bill Gates and media outlets like the Wall Street Journal. Despite rumors of internal Tesla leadership shifts, Musk insisted he plans to remain CEO for at least another five years. He also confirmed plans to dine with Trump later this week, keeping political speculation alive even as he distances himself from direct funding.