Elon Musk has announced plans to significantly reduce his political spending for future campaigns, including the 2026 midterms. His decision comes as he turns his focus back to Tesla, suggesting that he’s gained new supporters from the political right. Are MAGA supporters driving Tesla?
Musk Pulls Back on Political Spending
After becoming one of the largest individual political donors in U.S. history during the 2024 election cycle, Elon Musk has announced he will significantly reduce his political spending moving forward. The billionaire entrepreneur spent nearly $240 million through his political action committee, America PAC, supporting Donald Trump and Republican candidates across the country.
“I think I’ve done enough,” Musk stated during a recent investor meeting. “If I see a reason to do political spending in the future, I will do it, I do not currently see a reason.”
ELON INTERVIEW AT QATAR FORUM – FULL VERSION
Here's the full interview with Elon Musk at the Qatar Economic Forum a few minutes ago.
Timestamps:
0:44 A typical week for Elon
1:40 Tesla’s situation has already turned around
3:55 Elon's compensation important to control Tesla… pic.twitter.com/G3SxPgBEdP— ELON CLIPS (@ElonClipsX) May 20, 2025
Refocusing on Tesla Amid Business Challenges
Musk’s retreat from political spending comes as Tesla faces significant business challenges, including its first annual decline in vehicle deliveries in over a decade. The company reported a drop in revenue and net income in early 2025, with stock prices fluctuating amid concerns about leadership focus.
During the investor meeting, Musk committed to leading Tesla for at least the next five years, telling shareholders, “I’ll be allocating far more of my time to Tesla.” His renewed focus on the electric vehicle manufacturer suggests recognition that his political activism may have diverted his attention from core business operations.
Elon Musk: “Putting bullets into showrooms and burning down cars is unacceptable. Those people are going to prison, and the people who funded and organized them will also go to prison.. Don't worry, we're coming for you.” pic.twitter.com/oH5e5a14q4
— America (@america) May 20, 2025
Battling Backlash and Business Impacts
Tesla has reportedly faced significant backlash from leftist activists as Musk became more politically outspoken and involved with the Trump administration. The company has experienced vandalism, threats, and apparent boycotts from some progressive consumers who previously made up a substantial portion of Tesla’s customer base.
Musk has condemned the violent actions against Tesla and promised legal consequences for those responsible. “They’re on the wrong side of history, and that’s an evil thing to do,” Musk stated firmly, adding that “a number of them are going to prison, and they deserve it.”
Despite the challenges, Musk has dismissed concerns about Tesla’s future, insisting that “It’s already turned around.” He argues that while the company may have lost some left-leaning customers, it has gained new supporters from the political right, potentially offsetting the business impact of his political involvement.
Musk has also expressed a desire to increase his ownership stake in Tesla, clarifying that “It’s not a money thing, it’s a reasonable control thing over the future of the company.” This comes as Tesla appeals a court ruling that struck down his substantial compensation package, with Musk openly criticizing the judge involved in that decision.