« I did enough »: Musk sharply shrinks the cost of policy

Ilon Musk, who spent nearly $ 300 million to support the presidential campaign of Donald Trump and other Republicans last year, said it would significantly reduce its political costs. This is another public signal that he is again focusing on his business empire against the backdrop of increasing investor concerns.

Musk also said he was determined to remain CEO of Tesla for another five years. He strives to answer questions about how he balances his role in the automaker with his participation in the Trump administration, where he has led a large -scale effort to reduce costs in the federal bureaucracy. « As for political costs, I will do much less in the future, » Musk said at an economic forum in Qatar. « I think I did enough. »

If Musk, the richest man in the world, fulfilled his plan, could cost Trump and the Republican Party their greatest donor, but can also help his companies. His wealth is mainly related to shares in Tesla and SpaceX missile manufacturer, although he has shares and manages other companies.

Musk’s role as one of Trump’s most prominent supporters – reinforced by his ownership of the social network X – caused protests against Tesla, which led to a decline in sales and the cost of her shares.

However, the billionaire has not completely closed the door for policy costs in the future. « If I see a reason to do political expenses in the future, I will do it, » Musk said.

A White House source downplayed Musk’s decision, saying that he remained fully engaged to Trump and his party. The source said Musk’s support would continue on numerous channels, including as an advisor, through financial contributions and informal influence within donor networks.

The source said the White House considered Musk’s abbreviation as a reasonable response to increasing political attacks, adding that the president supported Musk’s decision to rethink how much visible supporter he wanted to be.

Another source familiar with Musk’s thinking said he did not expect a full political withdrawal from Musk and that the decision was partly nourished by the desire to help his business recover.

A powerful White House adviser

The main political political group for Musk’s costs, American PAC, declined to comment.

Last year, Musk directed hundreds of millions of dollars to Republican Super-Pac, funding operations in contested states and media campaigns that have enhanced Trump’s message.

He also spent over $ 20 million this spring to support the conservative candidate in the Wisconsin Supreme Court, helping it become the most expensive court race in US history. But the liberal candidate easily won the elections considered as an early referendum for Trump’s second term.

Musk’s withdrawal may force Republicans to lean more on traditional megadorians and increase funding from ordinary people before the congress election next year. « Can this influence? Maybe, but it may not affect because there are many other funds to raise money, » said Ron Bondjian, a longtime Republican strategist in Washington. « Musk facilitated him. But now that Trump is president, he is the main raising funds. »

Following Trump’s in January, Musk quickly established himself as a powerful power in the White House.

He led the so-called Government Efficiency Ministry (Doge), which seeks to eliminate tens of thousands of jobs and cancel bills and grants for billions of dollars, including most of the US foreign aid, in a often chaotic way.

But his political views have sparked waves of protests against Tesla in the US and Europe, which has led to a decline in sales.

The carmaker reported its first decline in annual supplies last year, and analysts expect another decline this year after a 13% decrease in the first quarter.

The question of how long he spent Musk in Tesla disturb some investors.

In an attempt to ease these concerns, Musk told investors last month that he would reduce his time in Doge to one or two days a week from May.

Polls show that Musk is unpopular in the US

Public opinion about Musk in the United States is sharply divided by party. Most Republicans say they have a favorable opinion about the technology tycoon, and a predominant share of Democrats say the opposite, according to Reuters/IPSOS surveys. Overall, 58% of those asked in a poll conducted on May 12-13 have said they have an adverse opinion on Musk, compared to 39%, who have a favorable opinion on him.

A man familiar with Musk’s efforts in the Trump administration described him to Reuters in April as « exhausted and annoyed », especially from the response against his companies. On Tuesday, Musk said that « sensible control » on « Tesla » was the most important factor in remaining the post of CEO.

Last year, he said he felt uncomfortable to develop Tesla as a leader in artificial intelligence and robotics without 25% of the vote.

Tesla’s shares briefly increased by 3.3% after the comments, but later reduced their profits to rise by about 1%. The shares are down with about 20% of Trump’s office after initially increased due to optimism that the administration would clear the regulatory route for the implementation of robotic taxis, which Musk defines as the main driver of Tesla’s market value.

Earlier this month, Tesla chairman Robin Denholm denied a Wall Street Journal publication, according to which members of the board contacted several selecting companies to find Musk deputy.

Musk told the event that Tesla has already increased its sales and demand is strong in regions outside Europe.