Elon Musk, the largest political donor in the United States, said he intends to spend "much less" on future political movements in order to strike Donald Trump loyalists before next year's midterm elections.
The world's wealthiest man, who spent more than a quarter of a billion dollars in Trump's 2024 presidential campaign, said he believes he has donated to the political cause.
"I will do a lot less (political spending) in the future," Musk said in a speech at the Qatar Economic Forum on Tuesday, adding that he did not "see at the moment" to maintain the level of support he has given conservative candidates over the past year.
After Musk's recent venture into electoral politics ended in failure. The Wisconsin Supreme Court candidate, with support from more than $25 million in April, came after the Democrats turned the game into a referendum on the Trump administration and Musk’s so-called Department of Administration Efficiency.
Shortly after the failure, Who Musk - whose polls show that it is more unpopular than Trump. He announced that he was taking a step back and spending more time running Tesla, partly due to sluggish sales and partly protesting the government’s cost-cutting initiative.
The billionaire changed the 2024 election by investing in Trump's campaign and signed a petition by offering the main swingers $100 Republicans to confirm their support for the First and Second Amendments to increase turnout in marginal regions.
The PAC, founded by Musk, also provided a petition of $1 million a day in the final weeks of the game.
Trump supporters expect Musk to continue to support Republicans who are consistent with the magazine in the next election cycle.
Congresswoman Marjorie Taylor Greene, a fierce Trump ally, said in November that the U.S. PAC is “critical for people in person face to face with anyone on the Margoga agenda.”
But Musk has since clashed with members of the Trump cabinet and has strongly opposed the administration's trade policy. His business also suffered from his distance from the White House.
Tesla CEO reiterated on Tuesday that he expected to be responsible for the electric vehicle company for the foreseeable future.
The company denied recent reports that Tesla board members explored options for appointing successors.
Musk, who is in the legal battle for a roughly $100 billion in compensation package in Tesla, said “there should be compensation… (when) doing something incredible”.
He also advised that his commitment to the company depends at least on salary and whether the shares he was awarded gave him enough control over the company.
Musk said he would be willing to eventually float his satellite internet business, Starlink, which is part of SpaceX, but is wary of the administrative burden of becoming a public company.
Other reports by Chloe Cornish