Musk says he'll do "a lot less" political spending moving forward

• Musk spent more than $250 million in a push to return Trump to the White House.

Driving the news: When asked at the Qatar Economic Forum if he would continue spending at such high levels in future elections, he said he thinks that "in terms of political spending, I'm going to do a lot less in the future."

• Pressed on why, Musk replied, "I think I've done enough."

Yes, but: The Tesla CEO, who appeared virtually for the conversation, said if he sees "a reason" to spend, he will. However, he added, "I do not currently see a reason."

Zoom out: Musk endorsed Trump last year after the Butler, Pennsylvania, assassination attempt and later became a key — yet highly controversial — GOP megadonor.

• Musk's lottery offering $1 million prizes to registered voters in swing states was scrutinized as legally questionable during the 2024 race, and the eyebrow-raising giveaways made a comeback during the closely watched Wisconsin Supreme Court race earlier this year.
• Musk poured millions into the election, only to see the conservative-backed candidate defeated in the most expensive judicial race in U.S. history.

Catch up quick: Musk has led a DOGE-driven crusade against so-called government "waste," directing a massive upheaval of the federal government during Trump's second term that's seen thousands of workers ousted from their jobs and carved out massive spending cuts.

• The chaos has left him with a wounded reputation and prompted brand blowback, Axios' Zachary Basu reports.
• That's triggered protests and, in some cases, vandalism involving Tesla cars and showrooms. Musk on Tuesday said, "[w]e are coming for those who organized the violence & death threats against Tesla."

Go deeper: Tesla, SpaceX reputations crater in new Axios Harris Poll 100

Editor's note: This story has been updated with additional context throughout.