American billionaire Elon Musk is stepping back from politics and returning to technology. After a wave of criticism and failures on the political front, he is focusing on the development of Tesla and the mission to fly to Mars. This is reported by The Washington Post.
According to the publication, about a year ago, Musk quietly summoned several Republican strategists and confidants to his apartment. The Tesla CEO told the group that the election of Donald Trump as the new US president was important to the future of the country, and he was willing to do anything — and pay any amount — to make it happen.
He did spend a lot, investing at least $288 million in the US election last year.
However, this week, after a period of severe backlash against his political activities and his electric car company, he appears to have drawn the line under all this work.
What will the richest man in the world focus on?
WP writes that, according to two anonymous people familiar with his thinking in recent months, politics has been central to Musk for much of the past year, but his latest obsession has faded, turning into frustration over personal costs and difficulties in achieving results.
Sources noted that Musk is also deeply concerned about the personal safety of himself and his family. He also did not expect this level of backlash against him personally or his companies, including incidents of violence at Tesla facilities.
Returning to work on Tesla and SpaceX
One source said privately that Musk is frustrated with the influence his money can have on the political system and would rather spend his time and fortune elsewhere.
The billionaire said he needs to refocus on Tesla and SpaceX, two companies that have earned him a reputation as a technological innovator and where he serves as chief executive officer.
Both are currently at a critical juncture: the electric car maker plans to release a fully autonomous vehicle in June, and the rocket company is expected to launch its next-generation Starship rocket as early as next week.
Musk also intends to send an unmanned fleet to Mars in 2026, which will be a crucial step in achieving his long-standing goal of sending humans to the Red Planet.
Meanwhile, the results of his active involvement in Washington affairs appear uncertain at best. The Department of Government Efficiency, which he led for several months, has set a goal from the outset to save $2 trillion from the US budget.
However, even his own latest estimates of $160 billion for fiscal year 2026 are much more modest and not the most accurate.
Musk never expected his political involvement to be easy, according to the publication. During a meeting last year, the billionaire acknowledged the personal and financial risks he was taking by supporting Trump as the presidential candidate, who is opposed by his mostly Democratic clients.
Musk's popularity has plummeted
Another potential push factor: Musk's popularity has plummeted, according to a Washington Post-ABC News-Ipsos poll released last month.
The poll found that 35% of Americans approve of how Musk is doing his job in the Trump administration, while 57% disapprove.
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