Elon Musk, the world’s richest person and a top political donor to President Donald Trump, said Tuesday he plans to reduce his political contributions moving forward. Speaking at a Bloomberg forum in Doha, Musk said, “I think I’ve done enough,” when asked why he’s stepping back.
Musk spent more than $250 million through America PAC during the 2024 campaign, making him Trump’s largest backer. The super PAC funded advertising and door-to-door canvassing in seven battleground states. Musk also hosted campaign rallies and claimed a key role in Trump’s return to the White House.
However, his political spending continued after the election. In March, Musk funneled over $21 million into a Wisconsin Supreme Court race through America PAC and Rebuilding America’s Future, supporting a GOP-aligned candidate who ultimately lost.
Musk’s growing frustration with government inefficiency—especially with the Department of Government Efficiency, which he helped launch—may have influenced his decision to scale back. His withdrawal could pose a financial challenge to Republican campaigns heading into the 2026 midterms.
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