Musk, the richest person in the world, emerged as a top supporter and adviser to Trump during the 2024 campaign where he spent an estimated $250 million to back the then-Republican candidate. However, he signaled on Tuesday that he will be spending less on political campaigns in the future.

Elon Musk has pulled back from his initial prominent role in the Trump administration and said he will spend “a lot less” on politics moving forward. But he’s still sure to a major figure on the campaign trail in the weeks and months ahead.

Wisconsin could go down as billionaire Elon Musk's last big spend on a political campaign. And it was a flop. Musk, the richest person in the world, said Tuesday that he would be spending less on political campaigns.