NewsHail
20 May 2025
Billionaire Elon Musk plans to spend less on politics. This marks a big shift. Last year, he donated over $250 million to help Donald Trump in the 2024 election.
At a business event in Qatar, Musk stated he would "do a lot less" spending in the future. He also confirmed he will lead Tesla for five more years.
Just weeks ago, Musk announced he would leave a White House team focused on cutting U.S. government spending, known as Doge.
Musk faced a setback when a judge he backed in Wisconsin lost an election. He had given more than $20 million to support that judge.
When asked about future political donations, Musk said he felt he had "done enough." He added, "If I see a reason to do it again, I will. I do not see a reason right now."
Musk avoided politics until last year. His large donations drew attention to his companies, including Tesla, Starlink, and social media site X.
Some worried about conflicts of interest. Musk's companies have government deals while some are under review.
His White House work sparked protests. Some were upset about federal job cuts, while others worried his team had access to private records.
Tesla's board and investors expressed concern that Musk wasn't focused enough on the company.
At the event, Musk said the backlash affected him. Some even targeted Tesla cars.
When asked if he regrets anything, Musk replied, “I did what needed to be done.”
He noted that Tesla is doing well despite the protests. “It’s already turned around,” he said. Tesla’s stock price has risen, and he added, “We see no problem with demand.”
Journalist Mishal Hussain asked Musk if he would stay at Tesla only for a higher salary. Musk is looking for a new pay deal, but a judge has blocked it twice.
“It’s not a money thing,” Musk said. “It’s about having fair control.”
