”I think I’ve done enough”: Elon Musk decides to stop funding political campaigns

Elon Musk announced his intention to reduce his participation in financing political projects and focus on other initiatives. The entrepreneur announced this information during his speech at the Qatar Economic Forum.

The Tesla CEO noted that he does not see the need to spend significant funds on political campaigns at the moment. “I believe that I have done enough. If there is a reason to further spend on politics, I will do so. But so far, there is no such reason,” he said.

These words were uttered against the backdrop of Musk’s waning influence in Washington, as well as following the failure of the Republicans he had supported in local elections in the United States. In particular, he actively invested in the campaign for the Wisconsin Supreme Court, where the Democratic candidate won.

In addition, Musk denied rumors that his decision to distance himself from politics was connected to criticism of him, including accusations that he had organized the Department of Government Efficiency with the support of Donald Trump.

In 2024, the billionaire spent more than $290 million to support Trump and the Republican Party. His influence has been significant not only in the United States; he has also been criticized for interfering in the politics of European countries, particularly by supporting the far-right Alternative for Germany.

It also became known that after 100 days in public service, Musk hinted at a possible dismissal from Trump’s team.