Elon Musk probably won’t be dropping $290 million on next year’s midterms
In an interview with Bloomberg yesterday, the Tesla chief revealed that he’ll cut back on political spending going forward, answering, “I think I’ve done enough,” when pressed further.
Musk said a lot across the 40-minute conversation at the Qatar Economic Forum, from pointing out that he can’t be CEO if he’s dead to asserting that the EV giant’s slumping sales have “already turned around.”
While Musk didn’t completely rule out a return to political spending in the future, it seems unlikely that he’ll match the bumper $291.5 million bill he racked up between 2023-24.
It only took the South African billionaire about six months to become the biggest donor of the cycle, after his first $5 million contribution to America PAC landed on July 3, per data from OpenSecrets.
According to the nonprofit’s list of top political donors from 2023-24, all of Musk’s donations went to Republican causes and campaigns, like the majority of the contributors on the ranking. Indeed, Michael Bloomberg and Facebook and Asana cofounder Dustin Moskovitz were the only majority Democrat donors to break the top 10.
Along with his recent shift away from DOGE responsibilities, Musk’s political spending pullback will likely be music to the ears of stakeholders at his companies, whose concerns about the CEO’s attentions have been well reported.
While Musk didn’t completely rule out a return to political spending in the future, it seems unlikely that he’ll match the bumper $291.5 million bill he racked up between 2023-24.
It only took the South African billionaire about six months to become the biggest donor of the cycle, after his first $5 million contribution to America PAC landed on July 3, per data from OpenSecrets.
According to the nonprofit’s list of top political donors from 2023-24, all of Musk’s donations went to Republican causes and campaigns, like the majority of the contributors on the ranking. Indeed, Michael Bloomberg and Facebook and Asana cofounder Dustin Moskovitz were the only majority Democrat donors to break the top 10.
Along with his recent shift away from DOGE responsibilities, Musk’s political spending pullback will likely be music to the ears of stakeholders at his companies, whose concerns about the CEO’s attentions have been well reported.
