Elon Musk announced during the Qatar Economic Forum that he intends to minimize his political spending, expressing satisfaction with his past contributions to political causes, particularly benefitting Republicans. Despite his departure, he kept the door open for future spending if deemed necessary. His previous extensive political contributions, amounting to over $290 million, paid off by reducing federal expenditures, but have also led to backlash affecting Tesla’s performance. Musk is also facing challenges with his businesses, including potential struggles with SpaceX's Starship development.
"I think I've done enough," Musk said Tuesday during an interview at the Qatar Economic Forum.
"Well, if I see a reason to do political spending in the future, I will do it. I don't currently see a reason."
Musk has privately pledged to donate another $100 million to Trump-backed groups before the 2026 midterm elections.
Even more of his wealth is derived from his ownership of SpaceX, which is struggling to develop its Starship mega-rocket.
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