Elon Musk, the CEO of Tesla and SpaceX, has reportedly declared that he will significantly scale back his political contributions in the future.
Speaking at Bloomberg’s Qatar Economic Forum, Musk stated, “I’m going to do a lot less in the future,” indicating a shift in his approach to political spending after a substantial involvement in the last election cycle.
Musk’s political action committee, America PAC, contributed nearly $240 million to support President Donald Trump and other Republican candidates during the 2024 election.
However, he has now suggested that he does not currently see a compelling reason to continue such aggressive financial backing as the 2026 midterm elections approach. “I think I’ve done enough,” he remarked, leaving open the possibility of future contributions based on circumstances.
In addition to his financial support, Musk was a visible presence on the campaign trail, frequently appearing alongside Trump. His involvement extended to initiatives aimed at identifying waste within the federal government, a project he led following Trump’s inauguration.
Musk also campaigned for conservative candidates in key races, including the Wisconsin Supreme Court election, which he claimed could impact the “entire destiny” of humanity. Ultimately, the conservative candidate, Brad Schimel, lost to his liberal opponent by a significant margin.
Musk’s recent comments come as he shifts his focus back to Tesla, especially after the company experienced a downturn in revenue and net income in the first quarter of 2025.
Tesla’s stock price fell from $379 in January to $222 in April but has since rebounded to $349. Emphasizing his commitment to the electric vehicle manufacturer, Musk expressed a desire to maintain “sufficient voting control” to safeguard the company from activist investors.
Reflecting on his political engagement, Musk stated, “It’s not a money thing; it’s a reasonable control thing over the future of the company.”
His withdrawal from active political campaigning is notable, particularly as he faces increasing scrutiny from leftist activists targeting Tesla, including incidents of vandalism and threats against dealerships.
During his address, Musk condemned these actions, asserting that those responsible for violence against Tesla properties would face legal consequences.
“Firing bullets into showrooms and burning down cars is unacceptable. Those people will go to prison, and the people that funded them and organized them will also go to prison,” he declared, earning applause from the audience.
As Musk recalibrates his political strategy, the implications for his business endeavors and the broader political landscape remain to be seen.
His reduced involvement may signal a shift in how influential figures navigate the intersection of business and politics in an increasingly polarized environment.
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