Elon Musk Announces Major Reduction in Political Contributions
(MENAFN) Elon Musk, a major financial backer of U.S. President Donald Trump, revealed on Tuesday that he intends to sharply reduce his political contributions moving forward. Speaking at an economic forum in Qatar, Musk shared that he had previously invested around $300 million in supporting Trump’s presidential bid and other Republican causes. "I'm going to do a lot less in the future ... I think I've done enough," he stated.
Despite scaling back, Musk didn’t completely rule out future political donations. "If I see a reason to do political spending in the future, I will do it," he added.
Musk's outspoken support for Trump has sparked protests against Tesla, negatively affecting both its sales and stock price. Since Trump’s presidency began, Tesla’s stock has decreased by approximately 20%, though a slight increase of 3.3% followed Musk's recent comments.
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