WASHINGTON (AP) — Elon Musk, the wealthiest individual globally and a significant contributor to President Donald Trump’s campaign, announced on Tuesday that he plans to reduce his political spending.
Musk shared this decision during a virtual appearance at a Bloomberg event in Doha, Qatar. This move could potentially impact Republicans negatively ahead of next year’s midterm elections. Musk’s decision might reflect his growing disillusionment with political processes, following a rocky experience with the Department of Government Efficiency, which has not met its federal spending reduction targets.
“I’m going to do a lot less in the future,” Musk said. Asked why, he responded that “I think I’ve done enough.”
Musk invested at least $250 million in support of Trump’s presidential campaign and even hosted some campaign events himself. This year, he also participated in a judicial race for the Wisconsin Supreme Court, although his favored candidate did not succeed.
