Elon Musk plans to cut back political spending

Billionaire Elon Musk has said he expects to dial back his political donations, a major shift from the figure who shook up the 2024 election as a top donor to President Donald Trump.

Musk, who ultimately spent more than $250m (£187m) in support of Trump's campaign, told an economic conference in Qatar that he planned to do "a lot less" spending in the future.

He also said he was committed to leading electric car company Tesla for another five years.

The comments come just a few weeks after he said he would step back from leading the controversial White House effort to slash federal spending, commonly called Doge.