Tech billionaire Elon Musk is prompting questions about his next steps as he signals he might wind down his political activity.
This week, the Tesla CEO said he’s planning to scale back his spending after injecting hundreds of millions of dollars into the 2024 election, a big potential blow for GOP campaign coffers moving forward.
The announcement comes as Musk also cools his involvement in the Trump White House to turn more attention to his businesses — even as voices on both sides of the aisle are skeptical that the megadonor will make a full exit from politics.
“Anytime the biggest donor says he's going to pull back, that's a concern for the party,” said GOP strategist Alex Conant.
“These megadonors, you have to earn their support every cycle. The party can't and doesn't take them for granted. He says he's planning to pull back, but if we have a presidential nominee in ‘28 that excites Musk, you could see him doubling down.”
Musk, the world’s richest man with a staggering $420 billion net worth, according to Forbes, spent at least $250 million to boost Trump through his America PAC. Now that Trump is back in the Oval Office, Musk has embraced an unprecedented role in the new Republican administration.
The tech mogul was tapped to lead Trump’s Department of Government Efficiency (DOGE) initiative, championing controversial cost-cutting and workforce-reducing moves that have sent shockwaves throughout the federal government.
Musk keeps an office in the White House complex, has slept over in the Lincoln Bedroom and has characterized his relationship with the president as “good friends.” He’s even stolen the spotlight in Cabinet meetings — though, as a special government employee, he is not a formal member of that inner circle.
“I don’t think we’ve ever seen somebody with an unofficial role have that much day-to-day influence. He's at the cabinet meetings. He's at diplomatic meetings [and he’s] traveling with the president regularly. I can't think of any historical parallel to that. He got an office there. So I think it's a very unique situation that probably isn't sustainable,” Conant said.
Musk’s special government status has a 130-day limit, and he’s been facing pressure to put more focus on his companies after months of major work with DOGE.
Tesla showrooms and charging stations faced violent protests earlier this year amid anger over DOGE's efforts, and the electric vehicle company’s sales plummeted in the first quarter. An Axios/Harris Poll survey gauging brand reputations, out this week, saw both Tesla and SpaceX drop.
“In terms of political spending, I’m going to do a lot less in the future,” Musk said at the Qatar Economic Forum this week. “I think I’ve done enough.”
Asked if that decision was because of blowback, Musk responded, “If I see a reason to do political spending in the future, I will do it. I do not currently see a reason.”
“I think he’s feeling a lot of pressure from his other stakeholders, investors at Tesla specifically, to refocus on the car business. And he’s telling them exactly what they want to hear,” Conant said of Musk’s remarks. “But there’s no reason he couldn’t change his mind.”
Republican strategist Brian Seitchik argued Musk “has the luxury of changing his mind at a moment's notice” when it comes to political spending.
“While I absolutely believe that his position today, that may not be his position tomorrow, and he has the luxury of being angry, irritated or inspired in the coming months and decide to spend,” Seitchik said.
If Musk is serious about curtailing his political dollars, fundraisers are sure to fret over losing the megadonor’s potential support in the midterms, when the GOP will have to fight to hold on to their slim majorities in Congress.
But not having Musk “would simply mean that Republicans have less money,” Seitchik argued. “It's not as though they have no money.”
Tech billionaire Elon Musk is raising questions about his next steps as he signals he might wind down his political activity.
This week, the Tesla CEO said he’s planning to scale back his spending after injecting hundreds of millions of dollars into the 2024 election, a big potential blow for GOP campaign coffers moving forward.
The announcement comes as Musk also cools his involvement in the Trump White House to turn more attention to his businesses — even as voices on both sides of the aisle are skeptical that the megadonor will make a full exit from politics.
“Anytime the biggest donor says he's going to pull back, that's a concern for the party,” said GOP strategist Alex Conant.
“These megadonors, you have to earn their support every cycle. The party can't and doesn't take them for granted. He says he's planning to pull back, but if we have a presidential nominee in ‘28 that excites Musk, you could see him doubling down.”
Musk, the world’s richest man with a staggering $420 billion net worth, according to Forbes, spent at least $250 million to boost Trump through his America PAC. Now that Trump is back in the Oval Office, Musk has embraced an unprecedented role in the new Republican administration.
The tech mogul was tapped to lead Trump’s Department of Government Efficiency (DOGE) initiative, championing controversial cost-cutting and workforce-reducing moves that have sent shockwaves throughout the federal government.
Musk keeps an office in the White House complex, has slept over in the Lincoln Bedroom and has characterized his relationship with the president as “good friends.” He’s even stolen the spotlight in Cabinet meetings — though, as a special government employee, he is not a formal member of that inner circle.
“I don’t think we’ve ever seen somebody with an unofficial role have that much day-to-day influence. He's at the cabinet meetings. He's at diplomatic meetings [and he’s] traveling with the president regularly. I can't think of any historical parallel to that. He got an office there. So I think it's a very unique situation that probably isn't sustainable,” Conant said.
Musk’s special government status has a 130-day limit, and he’s been facing pressure to put more focus on his companies after months of major work with DOGE.
Tesla showrooms and charging stations faced violent protests earlier this year amid anger over DOGE's efforts, and the electric vehicle company’s sales plummeted in the first quarter. An Axios/Harris Poll survey gauging brand reputations, out this week, saw both Tesla and SpaceX drop.
“In terms of political spending, I’m going to do a lot less in the future,” Musk said at the Qatar Economic Forum this week. “I think I’ve done enough.”
Asked if that decision was because of blowback, Musk responded, “If I see a reason to do political spending in the future, I will do it. I do not currently see a reason.”
“I think he’s feeling a lot of pressure from his other stakeholders, investors at Tesla specifically, to refocus on the car business. And he’s telling them exactly what they want to hear,” Conant said of Musk’s remarks. “But there’s no reason he couldn’t change his mind.”
Republican strategist Brian Seitchik argued Musk “has the luxury of changing his mind at a moment's notice” when it comes to political spending.
“While I absolutely believe that his position today, that may not be his position tomorrow, and he has the luxury of being angry, irritated or inspired in the coming months and decide to spend,” Seitchik said.
If Musk is serious about curtailing his political dollars, fundraisers are sure to fret over losing the megadonor’s potential support in the midterms, when the GOP will have to fight to hold on to their slim majorities in Congress.
But not having Musk “would simply mean that Republicans have less money,” Seitchik argued. “It's not as though they have no money.”
Republican strategist Ron Bonjean argued that if Musk moves aside, Trump can fill the void.
“Trump can now raise that type of fundraising very quickly. I think his efforts will offset Musk, and probably it will eclipse it by quite a bit,” Bonjean said — though he, too, suggested Musk “could quickly pivot” and get back on the fundraising playing field in the years ahead.
And Musk’s political influence lost a key test in Wisconsin’s state Supreme Court race in early April. He poured in millions to support the conservative candidate and even visited the Badger State, where he handed out $1 million checks to two town hall attendees just before voters headed to the polls.
Despite Musk’s efforts, the liberal contender prevailed, prompting Democrats to pile on and the tech mogul to downplay the results.
“Because of the amount of money he put in, the way he put it in, how engaged he got in the race, the race almost became a little bit about him, as opposed to [the candidate],” said Brandon Scholz, a longtime Wisconsin Republican strategist. “Musk became so toxic that the Democrats were just doing cartwheels.”
Many Republicans have dismissed concerns about Musk as a political liability. But Scholz floated that it may be good for the party if Musk, mired in controversy around DOGE and the Trump administration, takes a pause on high-profile political involvement to figure out what that should look like moving forward.
“If they get rid of the sideshow [seen in Wisconsin], if they retool the message and manage his entrance back into races, he could, in time, deep-six the toxic moniker. He could, in time, take more of a back seat in terms of media presence,” he added.
Democrats, on the other hand, have been banking on Musk being a drag on Republican candidates heading into the midterms, as GOP candidates take heat from their voters over DOGE and Musk’s White House role.
Democratic strategist Antjuan Seawright argued that, even if Musk does pump the brakes on his political activity, “the damage has already been done” and Democrats can still seize on it.
“It will be malpractice if we do not make him a political ongoing liability in the days, weeks, months and elections to come, because the damage and the residue of his time will not go away Just because he's not in the role,” Seawright said. “And just because he may not be out front maneuvering does not mean he's not maneuvering in such a way that may not reach the political eye.”
When it comes to Musk’s government role, figures on both sides of the aisle forecast that he’ll be a continued figure in Washington, even as he broadcasts his business focus.
Rep. Greg Casar (D-Texas) pointed out that Musk was on Capitol Hill this week to meet with Republicans on energy and artificial intelligence.
“Elon Musk isn’t gone, and we can’t let Republicans pretend he is just because he’s unpopular now. We have to keep up the pressure until we actually Fire Elon Musk,” Casar said on X.
“Anyone actually believe he’s stepping back?” Rep. Mark Pocan (D-Wis.) said, contending that Musk is “just hiding in the closet, but he’s still in the room.”
“He's certainly not going away,” Seitchik said. “While his day-to-day influence may change, he will continue to have a voice in this administration.”
Musk’s political influence lost a key test in Wisconsin’s state Supreme Court race in early April. He poured in millions to support the conservative candidate and even visited the Badger State, where he handed out $1 million checks to two town hall attendees just before voters headed to the polls.
Despite Musk’s efforts, the liberal contender prevailed, prompting Democrats to pile on and the tech mogul to downplay the results.
“Because of the amount of money he put in, the way he put it in, how engaged he got in the race, the race almost became a little bit about him, as opposed to [the candidate],” said Brandon Scholz, a longtime Wisconsin Republican strategist. “Musk became so toxic that the Democrats were just doing cartwheels.”
Many Republicans have dismissed concerns about Musk as a political liability. But Scholz floated that it may be good for the party if Musk, mired in controversy around DOGE and the Trump administration, takes a pause on high-profile political involvement to figure out what that should look like moving forward.
“If they get rid of the sideshow [seen in Wisconsin], if they retool the message and manage his entrance back into races, he could, in time, deep-six the toxic moniker. He could, in time, take more of a back seat in terms of media presence,” he added.
Democrats, on the other hand, have been banking on Musk being a drag on Republican candidates heading into the midterms, as GOP candidates take heat from their voters over DOGE and Musk’s White House role.
Democratic strategist Antjuan Seawright argued that, even if Musk does pump the brakes on his political activity, “the damage has already been done” and Democrats can still seize on it.
“It will be malpractice if we do not make him a political ongoing liability in the days, weeks, months and elections to come, because the damage and the residue of his time will not go away Just because he's not in the role,” Seawright said. “And just because he may not be out front maneuvering does not mean he's not maneuvering in such a way that may not reach the political eye.”
When it comes to Musk’s government role, figures on both sides of the aisle forecast that he’ll be a continued figure in Washington, even as he broadcasts his business focus.
Rep. Greg Casar (D-Texas) pointed out that Musk was on Capitol Hill this week to meet with Republicans on energy and artificial intelligence.
“Elon Musk isn’t gone, and we can’t let Republicans pretend he is just because he’s unpopular now. We have to keep up the pressure until we actually Fire Elon Musk,” Casar said on X.
“Anyone actually believe he’s stepping back?” Rep. Mark Pocan (D-Wis.) said, contending that Musk is “just hiding in the closet, but he’s still in the room.”
“He's certainly not going away,” Seitchik said. “While his day-to-day influence may change, he will continue to have a voice in this administration.”
“I think he’ll always continue to wear a variety of hats,” Bonjean said. “I just don't think you'll see him living in the Lincoln Bedroom every day, but he's established a foothold here in Washington, and he’ll be around more often than we probably think.”
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