Billionaire Elon Musk has announced plans to donate approximately $45 million per month to a super PAC supporting former President Donald Trump’s reelection campaign. This move follows Musk’s recent endorsement of Trump, who survived an assassination attempt at a rally in Pennsylvania on Saturday. The endorsement and financial backing come as a surprising shift from Musk’s earlier stance of remaining neutral in the 2024 presidential race.
The super PAC, named America PAC, was formed last month with financial contributions from Musk’s associates, including Palantir Technologies co-founder Joe Lonsdale, Cameron and Tyler Winklevoss, and former U.S. ambassador to Canada Kelly Craft and her husband Joe, the CEO of Alliance Resource Partners. According to The Wall Street Journal, America PAC has already spent at least $6.6 million on behalf of Trump, who was officially nominated as the Republican candidate for president at the recent Republican National Convention.
Musk, who is currently the richest person in the world with an estimated fortune exceeding $250 billion, had previously stated in March that he did not intend to donate to either the Trump or Biden campaigns. However, following the assassination attempt on Trump, Musk publicly endorsed the former president on X, expressing his hope for Trump’s rapid recovery and comparing his resilience to that of Theodore Roosevelt.
“I fully endorse President Trump and hope for his rapid recovery,” Musk wrote on X, sharing a video of Trump being escorted off the stage after being shot in the ear. Musk’s endorsement marks a stark contrast to his previous political contributions, which have included donations to both Republicans and Democrats.
America PAC’s primary focus is on registering voters and encouraging early voting and mail-in ballots in swing states, aiming to counter Democratic efforts in these critical areas. Musk’s substantial monthly contributions are poised to provide a significant financial boost to these operations, potentially altering the landscape of the 2024 election.
The Wall Street Journal reported that America PAC raised $8.75 million in contributions for the three-month period ending on June 30. Although Musk’s name did not appear in these filings, sources indicate that he plans to start his donations this month. Bloomberg News also reported that Musk made a recent donation to the super PAC, though the amount remains undisclosed.
Musk’s endorsement and financial commitment to Trump have drawn various reactions. Supporters view this as a strategic move to bolster Trump’s campaign against President Joe Biden, while critics see it as a controversial alignment of corporate power with political ambitions. Musk has been increasingly vocal in his criticisms of Democratic policies, particularly those related to labor unions and immigration, issues that have directly impacted his business operations.
Musk’s decision to relocate the headquarters of SpaceX and his social media company X from California to Texas underscores his growing affinity for the state’s business-friendly regulatory environment. The move was prompted by California’s SAFETY Act, which Musk criticized for limiting parental rights in school settings.