Daijiworld Media Network- Washington

Washington, May 21: In a significant political development, Elon Musk, the billionaire entrepreneur and a prominent donor to U.S. President Donald Trump’s 2024 campaign, has declared his intention to scale back on political contributions in the future.

Speaking via video link at the Bloomberg Forum held in Doha, Qatar, on Tuesday, Musk made a brief but telling statement, saying, “I’m going to do a lot less in the future.” When asked about the reasoning behind his decision, the Tesla and SpaceX CEO remarked curtly, “I think I’ve done enough.”

This announcement comes at a time when the Republican Party is gearing up for the 2026 midterm elections—a phase where political funding is considered vital for campaign momentum. Musk’s decision to pull back could deal a blow to the party’s financial strategy.

Musk, who has reportedly spent over $250 million supporting Trump’s 2024 run, has been one of the most active high-profile figures in conservative fundraising. His involvement extended beyond donations, as he reportedly organised campaign rallies and backed various conservative initiatives.

Earlier this year, Musk also lent his support to a candidate in the Wisconsin Supreme Court race; however, the candidate failed to secure victory.

Political observers believe Musk's decision might be linked to his growing disenchantment with the Department of Government Efficiency, a cost-cutting initiative he had strongly supported. The program has reportedly fallen short of its projected federal savings goals, possibly leading to Musk’s waning enthusiasm for political ventures.

As the political landscape in the United States continues to evolve, Musk’s withdrawal is likely to leave a noticeable gap in the Republican campaign machinery.