Elon Musk says he will spend ‘a lot less’ on future campaign donations

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Elon Musk says he will spend ‘a lot less’ on future campaign donations

Elon MusK, chief executive officer of Tesla Inc., speaks via video link at the Qatar Economic Forum (QEF) in Doha, Qatar, on Tuesday, May 20, 2025.

Christopher Pike | Bloomberg | Getty Images

Elon Musk on Tuesday said he plans to spend “a lot less” on political donations in the future, signaling a change in attitude from President Donald Trump’s top campaign backer.

Musk, the CEO of Tesla and SpaceX and the head of the government-slashing initiative DOGE, spent more than $250 million helping Trump win a second White House term.

But when asked at the Qatar Economic Forum if he will continue spending at that level in upcoming elections, Musk said he would not.

“I think, in terms of political spending, I’m going to do a lot less in the future,” Musk said.

When asked why, he said, “I think I’ve done enough.”

But Musk, the world’s richest man, said he may change his mind at some point.

“Well, if I see a reason to do political spending in the future, I will do it,” he said.

“I do not currently see a reason,” he added.

Musk’s remarks will likely come as an unpleasant surprise to Republicans running for reelection in 2026.

On top of his Trump-related donations, Musk spent more than

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in the final weeks of the 2024 election cycle to help Republicans win narrow majorities in Congress.

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