Elon Musk, the world’s richest man and CEO of Tesla, has announced plans to cut back on his political involvement moving forward. Speaking via video at the Qatar Economic Forum, Musk said he feels he has “done enough” when it comes to political spending and activities.
This news comes after a turbulent year that saw Musk deeply involved in American politics, especially through his support of former President Donald Trump and the launch of his controversial federal agency, DOGE (Department of Government Efficiency).
“I Think I’ve Done Enough,” Says Musk
Speaking to Bloomberg’s Mishal Husain, Musk explained that he doesn’t see a reason for more political spending at the moment.
“I’m going to do a lot less in the future,” Musk said. “If I see a reason to do political spending in the future, I will do it. I do not currently see a reason.”
In 2024, Musk reportedly donated around $288 million to Trump’s campaign efforts. He also took the lead on DOGE, an agency that aimed to cut government waste, resulting in the firing of thousands of federal workers and slashing millions in public project funding.
Tesla Faces Public Backlash and Profit Drop
These political moves have not gone unnoticed. DOGE has drawn significant criticism, and Tesla has faced the heat, with several dealerships attacked by vandals and arsonists. The Trump administration labeled these attackers as domestic terrorists.
Tesla’s financial performance has also taken a hit. The company reported a 71% decline in profit in the first quarter of 2025, especially in key markets like California, Germany, and China.
Musk Issues Warning to Tesla Vandals
In the same interview, Musk responded strongly to these attacks:
“Who are these people? They’re on the wrong side of history. I’ve not harmed anyone… Those people will be going to prison, and the people who also funded them are going to prison. Don’t worry, we’re coming for you.”
Still, Musk claimed that Tesla is holding steady overall:
“We’ve lost some sales on the left, but we’ve gained them on the right. Our stock wouldn’t be trading near all-time highs if things weren’t in all good shape.”
Criticism Over Musk’s Alliance with Trump
Some critics question Musk’s support of Trump, pointing out that the former president’s trade policies could hurt Tesla’s supply chain, which depends on imports from China and Mexico. Also, Trump’s pro-oil stance goes against Tesla’s clean energy mission.
Musk, however, has dismissed these concerns, saying:
“At the end of the day, what matters is if Tesla makes a great product, and people like buying great products.”
Time Spent on Politics to Be Reduced
In an April earnings call, Musk told investors that his time spent on DOGE would now drop significantly, allowing him to refocus on Tesla, SpaceX, and X (formerly Twitter).
This move seems to reflect an internal shift, as even some shareholders were worried that Musk was getting too involved in politics, affecting his attention to Tesla’s business.
No Plans to Leave Tesla CEO Role
There were also rumours earlier this month that Tesla was looking for a new CEO, as reported by the Wall Street Journal. Both Musk and Tesla Chair Robyn Denholm denied these claims.
Denholm said:
“The CEO of Tesla is Elon Musk, and the board is highly confident in his ability to continue executing on the exciting growth plan ahead.”
At the Qatar event, Musk was asked if he plans to remain Tesla CEO for the next five years. While he didn’t give a direct yes or no, his recent statements suggest he is refocusing on leading his companies, not politics.