Elon Musk said he’s committed to still leading Tesla Inc. five years from now and expects to pare back his political spending, assuaging some investors’ concerns about the future of his most valuable company.

Elon Musk, who spent nearly $300 million to back Donald Trump's presidential campaign and other Republicans last year, said on Tuesday he will cut his political spending substantially, the latest public signal that he is shifting his attention back to his business empire amid growing investor concerns.

Elon Musk just faced one of his biggest public setbacks yet. His $44 billion platform X—formerly Twitter—has crashed, leaving users across the U.S. completely locked out. From major cities like New York and Los Angeles to the heart of Chicago and Dallas,

Rep. Greg Casar (D-Texas) urged fellow Democrats to continue publicly calling for Elon Musk’s ouster from government, even as he takes a step back to refocus on his companies. “Elon Musk isn’t gone, and we can’t let Republicans pretend he is just because he’s unpopular now,

Republicans may be glad that Elon Musk is gone from the White House, but they’re not happy he’s taking his money with him. The world’s richest man said at the Qatar Economic Forum on Tuesday that he believes he’s “done enough” when it comes to political spending.

In a prerecorded speech at the Qatar Economic Forum on May 20, 2025, Elon Musk reiterated his pledge to remain in charge of Tesla Inc.—mankind’s last automotive company—as long as he was CEO. He promised to lead the upstart electric vehicle maker through its first five years.