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Elon Musk has announced that he will be doing a lot less political spending going forward. “I think I’ve done enough,” Musk said. Tesla’s CEO, Elon Musk, has been an influential political donor in recent years. However, the tech giant is saying that he plans to back away from political spending. Elon Musk, speaking at the Qatar Economic Forum on Tuesday, told Bloomberg that he plans to drastically reduce his political spending going forward. “I think in terms of political spending, I’m going to do a lot less in the future,” Musk said. “I think I’ve done enough.” In recent years, Elon Musk has shown fervent political interest and engaged with it often. During the campaign period of the 2024 U.S. presidential election, Musk stepped up as a financial powerhouse for Donald Trump’s campaign, investing over $250M into a super PAC designed to position Trump for reelection. Aside from financial support, Musk was also often present at rallies, and he appeared on stage multiple times. The Tesla CEO also assumed a formal advisory role for Trump and led the Department of Government Efficiency (DOGE). Earlier this year, Musk heavily funded a conservative candidate in a Wisconsin state Supreme Court race , although the race ultimately ended in defeat for the candidate he backed. When asked whether the criticism of his political involvement and its potential impact on his companies played a role in his decision, Musk answered: “Well, if I see a reason to do political spending in the future, I will do it. I don’t currently see a reason.” A close adviser, who only agreed to comment on the condition that they would be kept anonymous, said that a lower public profile could actually increase Musk’s effectiveness behind the scenes. “Musk scaling back his public profile does not diminish his influence. I think it can actually sharpen it,” the adviser stated . “He can still quietly fund stuff and support causes he believes in, but does not create unnecessary noise. These midterms will be about message discipline and a focus on the economy, not fights on X.” Elon Musk’s political donations and affiliations have always been a cause of some concern, especially as they increasingly align with far-right causes and candidates. Through his $250M contribution to Trump’s reelection campaign, Musk won a spot in the upper echelon of Republican megadonors, joining names like the Koch brothers and Sheldon Adelson. His political alignment however has not saved his companies, including Tesla and SpaceX, from dealing with public scrutiny, boycotts, and resistance from progressive consumer bases. Some analysts speculate that following his step back from influencing politics with his wealth, Musk may try to influence politics indirectly through the media. “He doesn’t need to write a $250 million check to be effective,” a political strategist familiar with super PAC operations said. “He has a direct line to millions of followers. Every post he makes is worth millions in coverage and influence.” Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

Elon Musk said on Tuesday he plans to remain Tesla’s chief executive for at least the next five years, except if “I might die,” responding to rumours that he might soon step aside. Musk also claimed, “There are people buying Teslas because Elon is crazy” at an event in Doha at Bloomberg’s Qatar economic forum . The remarks came after weeks of talk about Musk’s future at Tesla. Reports first surfaced in late April suggesting that Tesla’s board had quietly begun looking for a new CEO as early as March. On May 1, The Wall Street Journal and CNN said the board had reached out to several executive search firms to explore potential successors for Musk. They cited worries that he was too distracted, mainly because of his role at the US Department of Government Efficiency, and pointed to Tesla’s weak financial results in the first quarter of 2025. Musk flatly denied those claims, calling the Wall Street Journal report “deliberately false” and “an ethical breach.” Tesla chair Robyn Denholm backed him up, labeling the stories “absolutely false” and expressing full confidence in his leadership. Still, the rumors stirred fresh debate among investors and analysts over whether Musk could stay fully focused on Tesla while juggling other high‐profile projects and government work. In Doha, Musk tried to calm nerves by saying Tesla has “already turned around.” He labeled Europe as the company’s weakest market but said it was showing strength “everywhere else.” He stressed that having “reasonable control” of Tesla was the key to his staying on as CEO. Musk also spoke out against acts of “violence committed against my companies” and threats aimed at him personally, calling them “on the wrong side of history.” Earlier, Musk appeared at the Saudi‐US Investment Forum in Riyadh. There, he discussed humanoid robots, self-driving cars, his artificial intelligence venture xAI, and his vision for a drastically changed global economy. He said he has cut back his involvement in the DOGE initiative in Washington to concentrate on his duties at Tesla. Addressing investors and officials in Riyadh, Musk predicted, “We’re headed to a radically different world.” He forecast “tens of billions of humanoid robots,” describing them as helpers that could boost economic productivity enormously. He explained that “the output of an economy is productivity per capita times population. With humanoid robots, productivity becomes virtually unlimited.” Musk suggested that advances in AI and robotics might one day bring about a “universal high income,” erasing scarcity so that everyone could access any goods or services they wished. On the political front, Musk’s ties to former President Donald Trump have all but vanished . Trump’s inner circle has frozen out the tech billionaire. While Trump mentioned Musk online almost weekly from early February through March, he hasn’t mentioned him at all since April. Musk’s absence from White House briefings and congressional newsletters marks a sharp change. Public polling shows his popularity has fallen sharply, even more than Trump’s among some groups. By late April, most voters said they wanted him out of government before his 130-day contract ends at the end of May, if not sooner. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

Bloomberg: Prediction market Kalshi partners with xAI and hires Donald Trump Jr. as strategic advisor Prediction market Kalshi hired Donald Trump Jr. as its strategic advisor. The company is working with Elon Musk's artificial intelligence company xAI to provide customized information to guide website users' bets. In this cooperation, Kalshi will use xAI to integrate historical trend news to provide information support for traders to help them judge the direction of events such as the Federal Reserve's interest rate adjustment or election results. (Bloomberg)

Prediction market platform Kalshi is partnering with Elon Musk’s artificial intelligence startup, xAI, to provide tailored insights for users making bets on real-world events. The collaboration aims to enhance Kalshi’s event-based derivatives marketplace by integrating xAI’s models, which are trained on data from Musk’s social platform X. These models will help Kalshi synthesize news and historical data, providing traders with real-time context around topics ranging from central bank rate decisions to political races, according to a Bloomberg report . “There’s deep alignment between prediction markets, social media and AI. Prediction markets capture what people know — AI scales what people can know,” Kalshi CEO Tarek Mansour said in a statement per Bloomberg. Both companies say they are investing significant engineering resources into the initiative. The move comes as Kalshi gains traction among retail and political bettors, bolstered by a recent deal with Robinhood Derivatives to integrate prediction markets into the Robinhood trading app. That integration, announced in March, will begin with markets focused on politics, economic data, and sports. The partnership also highlights the overlapping political affiliations of the two companies. Kalshi counts Donald Trump Jr. as a strategic adviser and had former CFTC commissioner Brian Quintenz on its board. xAI, meanwhile, has tapped Kalshi’s former general counsel to lead regulatory strategy at Musk’s Department of Government Efficiency. Musk’s xAI also made headlines this week by announcing that Microsoft Azure will host its flagship Grok models, further expanding its reach in the AI space. The collaboration with Kalshi adds another use case for AI in financial and betting markets, especially as regulators watch both sectors closely.

Kalshi partners with Elon Musk’s xAI Kalshi, a prediction market advised by Donald Trump Jr., is partnering with Elon Musk’s AI firm xAI to deliver tailored insights that guide user bets, according to Bloomberg. The platform plans to use xAI to synthesize news and historical