Billionaire Elon Musk, the CEO of electric vehicle manufacturer Tesla, made it clear on Wednesday that he would not be contributing funds to either Republican candidate Donald Trump or Democratic President Joe Biden in the upcoming election.

This statement followed Musk’s recent meeting with Trump in Florida, where the former president is seeking substantial financial backing for his campaign. Musk confirmed the meeting, which took place alongside a small group of individuals.

Taking to his social media platform X, Musk reiterated his position, emphasizing that he would not be financially supporting either presidential contender. In the past, Musk has advocated for electing a Republican Congress in the U.S. midterm elections as a means to balance the Democratic leadership under Biden.

He has also expressed concerns regarding Biden’s immigration policies, suggesting that they incentivize migrants to come to the U.S. to vote for Democrats, despite non-citizens being ineligible to participate in federal elections.

The announcement from Musk came on the same day that Nikki Haley ended her bid for the Republican presidential nomination. Haley’s withdrawal effectively solidified Trump’s position as the Republican Party’s candidate in the upcoming election, setting the stage for a rematch with Biden in November.