Elon Musk has announced he plans to cut back on political spending. Speaking at an economic summit in Qatar, Musk said he would invest “a lot less” in political causes moving forward.
The Tesla and SpaceX chief had become one of the biggest backers of Donald Trump’s 2024 campaign. But now, Musk says he is stepping away from major political involvement. When asked about his past role in politics, Musk replied, “I did what needed to be done.” He added, “I think I’ve done enough.”
Musk Shifts Focus to Tesla and Tech
In recent months, Musk decided to leave his leadership role in the U.S. government’s cost-cutting program known as Doge. He had helped design the plan to reduce federal spending. Critics said it could affect key public services.
Now, Musk says his focus is back on business. He confirmed he plans to stay as Tesla’s CEO for at least five more years. “We see no problem with demand,” he stated, pointing to a recent jump in Tesla’s stock price. “It’s already turned around.”
Business Tensions and Political Backlash
Musk’s political turn had sparked strong public reaction. After joining Trump’s inner circle, protests grew against his policies. He faced criticism for efforts that led to federal job cuts and for giving Doge access to sensitive data.
Activist groups responded with boycotts of Tesla, leading to falling sales and worry among investors. Critics warned that Musk was becoming too distracted from the company that built his fortune.
His companies—Tesla, Starlink, and X (formerly Twitter)—also came under more government review. Federal contracts, investigations, and media reports all raised questions about how Musk’s political ties might affect his businesses.
Failed Campaign Bets and Trump’s Snub
Musk’s push into politics also came with losses. In Wisconsin, a Supreme Court candidate he supported with over $20 million failed to win. Meanwhile, Trump went ahead with trade tariffs despite Musk’s advice against them.
Musk had promised Doge would save the government trillions. But that target was not reached. At the Qatar event, he defended the effort, saying Doge only served in an advisory role.
“We are simply the adviser,” Musk said. “In that context, we are doing very well.” He rejected claims that the program hurt the poor, including warnings from global health groups about cuts to HIV/AIDS programs.
Personal Toll and Pay Controversy
Musk admitted that the backlash has been tough. He said there were even attacks on Tesla vehicles due to his politics. Still, he defended his actions. “If I see a reason to do political spending in the future, I will do it,” he said. “Right now, I see no reason.”
When asked by journalist Mishal Husain if he would stay at Tesla without a large pay package, Musk pushed back. Courts have rejected his massive compensation plan twice. But Musk said his motives weren’t about money.
“It’s not a money thing. It’s a reasonable control thing,” he explained. His words suggested that being able to steer Tesla’s direction was more important to him than a big paycheck.
A New Phase for Musk?
Elon Musk’s future political role is now unclear. But one thing is certain—he is stepping back for now. His main focus, he says, is on growing Tesla, improving Starlink, and leading innovation.
As Musk distances himself from politics, Tesla investors will be watching closely. Many hope that less controversy and more business focus will help the company recover its image and global sales.