Musk: will significantly reduce political expenses

Musk said he will continue to serve as Tesla's CEO for the next five years, easing concerns from some investors about his ability to focus on running Tesla. Musk also said that in the future he will significantly reduce his political spending, a statement that could be a blow to Trump and the Republican Party in the 2026 midterm elections. When asked why he was changing his approach, Musk responded, "I feel like I've done enough." Musk has been serving as Tesla's CEO since 2008, making him one of the longest-serving CEOs among major global car manufacturers. After Musk made the above remarks, Tesla's stock price briefly rose more than 3.6%, before falling slightly. The stock has fallen by 15% so far this year.