Elon Musk has just expressed his regretting wasting such a big portion of his money on the Trump campaign.

During his speech at the Qatar Economic Forum, Musk made a shocking statement that he will be spending "a lot less" on political contributions moving forward, seemingly hinting that his friendship and partnership with President has turned sour.

During Trump's political campaign, Musk was one of the key figures of Trump's campaign, appearing beside Trump for every single one of his campaigns.

Musk Rethinks his Political Spendings

Musk’s announcement comes after he poured more than $250 million into Trump’s campaign and related Republican efforts during the 2024 election cycle, making him the largest individual campaign donor that year.

His super PAC, America PAC, was also a leading outside spender in high-stakes races, including the pivotal Wisconsin Supreme Court election earlier this year, where Musk-linked groups spent over $13 million.

When asked about his future political engagement, Musk was unequivocal

“I think, in terms of political spending, I’m going to do a lot less in the future. I think I’ve done enough.”

However, he left the door open to future involvement, adding

“If I see a reason to do political spending in the future, I will do it. I do not currently see a reason.”

Backlash and Business Consequences

Musk’s high-profile political activity has come at a cost. His leadership of the Department of Government Efficiency (DOGE)—a Trump administration initiative aimed at slashing federal agencies and cutting government jobs—has sparked controversy and drawn sharp criticism from both the public and investors.

Polls show a significant drop in public approval for Musk and his companies, with negative sentiment spiking since his increased involvement in Washington.

Tesla, in particular, suffered a decline in sales and stock prices earlier this year, with showrooms becoming targets for protests and vandalism.

Investor unease has also mounted, with surveys indicating that a majority believe Musk’s political forays have negatively impacted Tesla’s business.

Many Tesla stakeholders expressed concern that his dual identity as a tech entrepreneur and political influencer was distracting from the company’s core mission.

Amid mounting backlash and market volatility, Musk has signaled a renewed focus on his business ventures. He affirmed his commitment to remain Tesla’s CEO for at least five more years and indicated that his involvement with DOGE would “significantly” decrease starting this month.

Despite this public pullback, advisors close to Musk emphasize that his influence in political circles will remain potent, albeit less visible.

“Musk scaling back his public profile does not diminish his influence. I think it can actually sharpen it."

Impact on the 2026 Election Cycle

Musk’s decision to scale back political spending is likely to have ripple effects across the Republican Party, especially as candidates gear up for the 2026 midterm elections.

His financial support was instrumental in securing narrow GOP majorities in Congress in 2024, and his withdrawal may leave a significant funding gap for conservative campaigns.

Elon Musk’s retreat from political megadonor status marks a pivotal moment in both the tech and political landscapes.

After reshaping the 2024 election with unprecedented spending and serving as the face of federal government downsizing, Musk is recalibrating his public and political engagement.

While he may be stepping back from the spotlight, his ability to influence American politics—whether overtly or behind the scenes—remains formidable.