Elon Musk, Trump’s Biggest 2024 Donor, Says He Plans to Cut Back Political Spending

Elon Musk, who spent more than $250 million dollars on Donald Trump’s election campaign, has said he plans to reduce political spending, stating “I’ve done enough”.

“In terms of political spending, I’m going to do a lot less in the future,” the Tesla and SpaceX CEO said when asked about potential involvement in the midterms, during an interview at the Qatar Economic Forum.

When questioned whether this was due to “blowback”, Musk responded: “Well, if I see a reason to do political spending in the future, I will do it. I do not currently see a reason.”

Musk, the world’s richest man with a personal wealth around $423bn, was the President’s largest donor for the 2024 election. Following the election, Musk was given a leading role in the administration’s Department of Government Efficiency (DOGE), a Trump administration initiative aimed at reducing federal spending and bureaucracy.

Read more: Inside Elon Musk’s War on Washington

Since the election, the billionaire also put $13 million towards the Republican candidate Brad Schimel for Wisconsin Supreme Court, which was ultimately won by Democrat-backed Susan Crawford.

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Musk is expected to be reducing his involvement in DOGE, in order to focus on his businesses. In April, he announced that he would be significantly cutting back the time spent working with DOGE amid falls in profits and sales for his electric car company Tesla.

Beyond the United States, Musk has also shown support for right-wing parties and candidates. In January, the billionaire endorsed the leader of the AfD party Alice Weidel during an audio livestream on X.

“Only AfD can save Germany, end of story, and people really need to get behind AfD, and otherwise things are going to get very, very much worse in Germany,” Musk said during the livestream.

He has also voiced support for the right-wing Reform UK party in the United Kingdom, saying in an X post in December: “Only Reform can save Britain.”