Elon Musk says he will cut back on political spending after heavily backing Trump in 2024

It speaks to his possible disenchantment with politics after his tumultuous tenure as Trump’s pick to lead the newly created Department of Government Efficiency.

WASHINGTON — Elon Musk, the richest person in the world and a key financial supporter of President Donald Trump, said Tuesday that he’ll be spending “a lot less” on political campaigns, a reversal that could be a setback for Republicans ahead of next year’s midterm elections.

Musk disclosed his decision via videoconference during a Bloomberg forum in Doha, Qatar. It speaks to his possible disenchantment with politics after his tumultuous tenure as Trump’s pick to lead the newly created Department of Government Efficiency,

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