Elon Musk cuts political funding, says he's "done enough"

The world's richest man and a supporter of the current US President, Elon Musk, has announced his intention to significantly reduce his spending on political campaigns.

This is reported by The Washington Post.

Musk said that he plans to spend "a lot less" on political activities. When asked about the reasons for this decision, he explained laconically: "I think I've done enough."

Musk has already spent almost USD 300 million in support of Donald Trump's presidential campaign, becoming one of the largest private donors in US history. He also promised to support Republicans in the upcoming Senate elections in 2026.

However, despite significant investments, not all of the billionaire's initiatives have been successful. After Trump's victory, he allocated more than USD 23 million to support Republican Brad Schimel in the Wisconsin Supreme Court election, but he was defeated.

As the Washington Post suggests, Musk's decision may be due to disappointment in political influence, in particular after his Department of Government Efficiency (DOGE) failed to achieve the expected results in reducing government spending. Although DOGE representatives claimed savings for the state of about USD 170 billion, journalists point out the unreliability and exaggeration of these data.

Recall that in April, Musk announced a reduction in his participation in the work of the US government in order to put his own business in order. One of the reasons for this decision was the decline in Tesla's profits in the first quarter.

And recently, Politico noted that the head of the Department of Government Efficiency (DOGE) has almost completely disappeared from the public sphere. US President Donald Trump and American officials have stopped mentioning him.