PREVIEW

Elon Musk Plans to Cut Back on Political Donations Amid Focus on Tesla. Billionaire Elon Musk has announced plans to scale back his political donations, a significant shift from his high-profile support of Donald Trump's 2024 campaign where he spent over $250 million. Speaking at an economic conference in Qatar, Musk stated he would be doing “a lot less” political spending in the future. Musk, who has previously played a prominent role in US politics, said he no longer sees a reason to make large political contributions but will remain open to it if the need arises. The move follows his recent decision to step back from leading efforts to cut federal spending, known as Doge. Musk’s entry into politics last year raised scrutiny over potential conflicts of interest with his companies, including Starlink, Tesla and X. As his political involvement grew, so did protests and boycotts, putting additional pressure on Tesla's sales and causing concern among investors. Musk reaffirmed his commitment to lead Tesla for another five years.
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