Musk: Political donations will be "significantly reduced" in the future.

BlockBeats news, on May 20, according to Fortune magazine, Musk stated on Tuesday that he would reduce his spending on political campaigns in the future. When asked whether he would continue to make political donations, Musk said, “I will do a lot less in the future.” When pressed for reasons, he replied, “I think I’ve done enough.” However, he added, “If I see a reason to invest in politics in the future, I will still do it.” Musk’s decision also reflects a certain disappointment with politics, especially after his experience working with the Department of Government Efficiency (DOGE). This department was originally dedicated to cutting federal government spending but failed to meet its targets. Musk previously claimed that DOGE could save up to $2 trillion, equivalent to about 30% of the federal government’s spending in the last fiscal year. However, he recently significantly lowered the target, and as of last month, the amount he promoted as savings was only $150 billion. Musk spent at least $250 million supporting Trump in the last presidential election and even personally hosted some campaign rallies. This year, he also participated in an election for the Wisconsin Supreme Court, although the candidate he supported ultimately lost.