Musk: Will "Significantly Reduce" Political Donations in the Future

BlockBeats News, May 20th - According to Fortune magazine, Musk stated on Tuesday that he would reduce his future political campaign spending. When asked if he would continue to make political donations in the future, Musk said: "In the future, I will do much less." When asked for the reason, he replied, "I think I have done enough." However, he added, "If in the future I see a reason to be politically involved, I will still do it."

This decision by Musk also reflects a certain disillusionment with politics, especially after his experience collaborating with the Department of Government Efficiency (DOGE). The department was originally dedicated to cutting federal government spending but failed to meet its targets. Musk had previously claimed that DOGE could save up to $2 trillion, equivalent to about 30% of the federal government's spending in the previous fiscal year. However, he recently significantly lowered the target, and as of last month, the touted savings amount was only $150 billion.

In the last presidential election, Musk spent at least $250 million supporting Trump and even personally held some campaign rallies. This year, he also participated in an election for the Wisconsin Supreme Court, although the candidate he supported ultimately lost.