Elon Musk, a major donor to President Donald Trump's 2024 campaign, announced on Tuesday that he is planning to reduce his political contributions going forward, reported the Associated Press.
Speaking via video conference at a Bloomberg forum in Doha, Qatar, Musk stated, "I'm going to do a lot less in the future." When asked why, he simply replied, "I think I've done enough."
His decision could pose a challenge for Republicans ahead of the 2026 midterm elections, where financial backing plays a crucial role.
Musk's retreat from politics follows a period of deep involvement, including spending at least $250 million on Trump's campaign and even organising some of his own rallies.
He also participated in a Wisconsin Supreme Court race earlier this year, though his preferred candidate was defeated.
Observers suggest Musk may be disillusioned after his experience with the Department of Government Efficiency, an initiative he supported that has failed to meet its federal cost-cutting targets. -- Agencies
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