Musk Says He Will Spend 'A Lot Less' On Political Campaigns In Future

Billionaire Elon Musk on May 20 said he was pulling away from spending his fortune on politics, asserting that his Tesla electric car company was doing well despite blowback due to his support of US President Donald Trump.

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"In terms of political spending, I'm going to do a lot less in the future," Mr Musk told Bloomberg's Qatar Economic Forum in Doha, speaking by video link from Austin, Texas.

Mr Musk, the richest person on earth, spent hundreds of millions of dollars on Mr Trump's political campaign, and questions were rife in Washington whether his largesse would continue.

"If I see a reason to do political spending in the future, I will do it. I don't currently see a reason," he said, during the often tense interview.

The comments will trigger speculation that the close relationship between Mr Trump and Mr Musk may be shifting as the Tesla tycoon steps away from his full-time role as cost-cutting chief for the US administration.

When it comes to politics, "I did what needed to be done", Mr Musk said.

Mr Musk confirmed that he has reduced his role as the unofficial head of the administration's "Department of Government Efficiency", working there now just two days a week.