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 signaled on Tuesday that he will be spending less on political campaigns in the future.

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".

For axing the parts of the federal bureaucracy he didn’t like, Musk has earned a cushy second act — as the recipient of sweetheart deals from foreign governments looking to gain favor with the president.