Doha – Speaking at an economic forum in Qatar, Musk revealed his intentions to “do a lot less” political spending, following a year in which he reportedly contributed over $250 million in support of former President Donald Trump’s 2024 campaign. The announcement comes amid growing scrutiny over Musk’s influence in Washington and the impact of his political activism on his business empire.
“If I see a reason to do political spending in the future, I will do it,” Musk said on stage. “I do not currently see a reason.”
His comments mark a striking departure from the entrepreneur’s brief but potent involvement in the political sphere. Once a largely apolitical figure, Musk emerged as a major donor and informal adviser to the Trump administration, particularly through his leadership in the federal cost-cutting initiative known as Doge.
However, the results have been mixed. Musk suffered a setback earlier this year when his preferred candidate for Wisconsin’s Supreme Court lost despite significant financial backing. Meanwhile, Doge’s proposed spending cuts have not achieved the trillion-dollar reductions once promised.
Musk defended Doge, stating, “We are simply the adviser. In that context we are doing very well.” Yet outside observers, including the UN, have criticized the program’s effects on global aid and health initiatives previously funded by the U.S.
Backlash has not been limited to policy. Musk acknowledged facing violent protests and declining Tesla sales in certain regions as a result of his political involvement. With public confidence shaken, Tesla’s board and investors have called for Musk to refocus on the company’s core business.
Responding to such concerns, Musk declared he intends to remain at the helm of Tesla for “at least another five years.” He also dismissed claims that his continued leadership hinges on a long-disputed compensation package, currently under judicial review. “It’s not a money thing,” he said. “It’s a reasonable control thing.”
Despite political turbulence, Musk expressed confidence in Tesla’s performance, especially outside Europe. “It’s already turned around,” he asserted. “We see no problem with demand.”
As Musk pivots back to corporate priorities, his retreat from politics underscores the complexity of mixing business leadership with political ambition. Whether his reduced role in Washington signals a lasting recalibration or a strategic pause remains to be seen.
