Washington DC - Elon Musk has revealed that he plans to spend a lot less money on politics in the future as President Donald Trump reportedly distances himself from the billionaire.

During the Qatar Economic Forum on Tuesday, Musk was asked if he planned to spend as much money on future elections as he did helping Trump get elected last year.

"I think... in terms of political spending, I'm going to do a lot less in the future," Musk responded.

When asked why, he simply stated, "I've done enough," garnering mixed vocal reactions from the crowd.

Celebrities Blake Lively's team calls for sanctions against Justin Baldoni after "ghoulish taunt"

He was then pressed further on whether his decision was influenced by "blowback" he has received being the head of Trump's Department of Government Efficiency (DOGE) – a role in which he has overseen the firing of thousands of federal workers and the elimination of dozens of government agencies.

Musk appeared to evade the question, saying, "If I see a reason to do political spending, I will, but I don't currently see a reason."

Musk's plan to dial back spending comes as a surprise, as he spent over $290 million of his own money to support Trump's campaign during the 2024 presidential elections, making him a huge financial asset for the Republican Party.

He has also aggressively used his X platform to elevate Trump and other conservatives, along with overall far-right views and narratives, which critics have argued was a big influence on Trump's election win.

When Trump was first re-elected and took office in January, the president constantly talked about Musk in social media posts and fundraising emails, and the billionaire regularly accompanied him to a number of events.

Their closeness was initially met with immense scrutiny, as many critics argued that Musk had bought the election and was now in charge, garnering him the nickname "President Musk."

Musk recently attempted – but failed – to influence a state Supreme Court race in Wisconsin by spending $21 million in support of a conservative candidate, who ultimately lost to his liberal opponent by more than 10 points.

Celebrities Kid Rock addresses ICE raid at his restaurant after getting grilled over MAGA allegiance

Things have now appeared to shift with their relationship, as a report from Politico recently found that Trump has hardly spoken publicly about Musk since early April, and has not mentioned the billionaire in a Truth Social post since March 31.

A number of recent polls have also shown that Musk's popularity among voters from both sides of the political aisle has massively dropped.