The man with deep pockets just may have hit the bottom of them.
Elon Musk, the world’s richest man, said Tuesday at the Qatar Economic Forum he will not be spending as much money in politics as he has in the past, per NBC News.
Musk spent more than a quarter of a billion dollars on a super PAC to help President Donald Trump return to the White House.
“I think in terms of political spending, I’m going to do a lot less in the future,” Musk said. “I think I’ve done enough.”
Musk also addressed a question of whether he is cutting his spending because of the backlash he has received.
“Well, if I see a reason to do political spending in the future, I will do it,” he said. “I don’t currently see a reason.”
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One adviser said this does not mean Musk will not carry as much influence.
“Musk scaling back his public profile does not diminish his influence. I think it can actually sharpen it,” the adviser said. “He can still quietly fund stuff and support stuff he believes in, causes he believes in, but does not create unnecessary noise. These midterms will be about message discipline and a focus on the economy, not fights on X.”
Musk was a stalwart in Trump’s campaign in the 2024 election and donated more than $250 million to the cause.
Musk was rewarded by being named the head of the new Department of Government Efficiency, whose primary cause to keep an eye on government spending and reduce it where feasible.
