Musk lays groundwork for big donor role in midterm polls

Billionaire Elon Musk scales back work for US President Donald Trump; he's laying the groundwork for a major role as a Republican political megadonor in next year's midterm elections, according to our people with direct knowledge of the matter.

- REUTERS

After announcing last week that his cost-cutting role at the White House was mainly done, Musk views his money and his social media platform X as potentially more powerful political tools than his time inside the government, when he became the face of Trump's shake-up of the federal bureaucracy, one of the people said. The people said they expect Musk, the world's richest person, to remain influential with Trump as a political adviser while investing in Republican candidates in next year's midterms.

"How Elon exits matters," said a second person with direct knowledge of the discussions. "The priority is keeping him close — without turning a major ally into a liability heading into 2026."