Elon Musk cuts political spending, refocuses on Tesla amid leadership and market challenges
Elon Musk, the billionaire entrepreneur and CEO of Tesla, has announced a significant shift in strategy, declaring that he will be scaling back political donations to focus more intensively on his core business ventures. Speaking at the Qatar Economic Forum, Musk stated he will be doing “a lot less” political spending, citing that he had “done enough” in the political arena—an apparent retreat from his aggressive financial support for Republican causes, including former President Donald Trump’s 2024 re-election campaign. ' Elon Musk. ' Saul Loeb/AFP via Getty Images This announcement follows a year in which Musk contributed over $250 million to Trump’s campaign and conservative efforts, including a controversial $25 million spent on a failed bid to influence the Wisconsin Supreme Court race. That political gamble backfired, casting doubts on Musk’s effectiveness as a political influencer and even prompting concern among GOP strategists about his growing invol...