El world’s richest man has surprised by announcing that he will significantly reduce his political involvement. After playing a prominent role on Donald Trump‘s team and heading a series of cuts and layoffs from the Department of Government Efficiency (DOGE), the mogul announced his decision to step away from campaign financing.
“In terms of political spending, I’m going to do a lot less in the future,” Musk said in his virtual address.
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This change of stance represents a radical shift from his recent strategy, which included more than $300 million to support Trump’s re-election in 2024. Musk was an influential figure in the early days of the new Republican administration, and his withdrawal creates uncertainty in the party, which loses one of its main economic backers. Even so, the businessman qualified that he does not rule out getting involved again if a compelling reason arises, although for now he “sees no reason to continue doing so.”
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The consequences of his political presence were soon reflected in his business. Tesla, one of his most emblematic companies, suffered a 13% drop in sales during the first quarter of 2025. The decline is attributed to multiple factors: from competition in the electric vehicle market to rejection by the progressive public and vandalism in some states. In addition, his management of the DOGE, known as the “federal chainsaw”, included the closure of agencies such as USAID, cuts in social areas and freezing of funds to NGOs, which generated friction within the government itself.
Despite everything, Musk seems to have opted to refocus his energy on the business world. His impact on the public sphere has left its mark, both on his image and on his companies. When asked about his future at the helm of Tesla, he did not lose the ironic tone that characterizes him: “Yes… well, I might die,” he joked. With this partial withdrawal, the businessman is trying to leave behind a turbulent period and return to focus on his technological and business projects.
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