Elon Musk has announced plans to contribute $45 million per month to a Super PAC dedicated to supporting Donald Trump’s election campaign, starting in July, as reported by the Wall Street Journal.
This move comes shortly after Musk publicly endorsed Trump. According to Bloomberg, the tech billionaire has already donated what has been described as “a sizable amount” to the America PAC, though the exact figure will not be disclosed until election filings are made public on July 15.
Reports from both the Wall Street Journal and Bloomberg, based on accounts from unnamed sources familiar with Musk’s plans, suggest that if Musk follows through with these contributions, the sum would be extraordinary.
The Wall Street Journal highlighted that the largest known donation of the 2024 election cycle so far is $50 million, made by the great-grandson of banker Thomas Mellon to a Super PAC supporting Trump.
As of June 30, a review of records by the New York Times indicated that Musk had not yet made any donations to the Super PAC.
READ ALSO:
From Critic to Ally: Trump Selects Former Critic as Running Mate
The America PAC, which launched this summer, aims to mirror Democratic party turnout efforts by funding robust Republican get-out-the-vote campaigns in swing states, as reported by the New York Times.
The PAC has already garnered support from several of Musk’s associates in the tech industry. Joe Lonsdale, co-founder of the software company Palantir with Peter Thiel, a significant political donor to Trump’s running mate, Ohio senator JD Vance, is among the backers.
The Winklevoss twins, known for their cryptocurrency ventures and criticism of President Joe Biden’s regulatory stance on cryptocurrency, have also contributed. They praised Trump as “pro-Bitcoin, pro-crypto, pro-business” in June.
With an estimated net worth of $252 billion, Musk’s financial influence in the political arena is significant. His potential monthly donations to America PAC would mark a substantial financial commitment, underscoring his support for Trump’s campaign and the broader Republican effort.
The impact of such contributions could reshape the dynamics of the upcoming election, particularly in crucial swing states.