Elon Musk, who spent more than $250 million dollars on Donald Trump’s election campaign, has said he plans to reduce political spending, stating "I’ve done enough".

Musk, the richest person in the world, emerged as a top supporter and adviser to Trump during the 2024 campaign where he spent an estimated $250 million to back the then-Republican candidate. However, he suggested during a virtual Bloomberg forum in Doha, Qatar on Tuesday that his time financially influencing political campaign may be over.

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.