According to Wall Street Journal
Billionaire Elon Musk has stated that he intends to donate $45 million a month to the super pack dedicated to electing Donald Trump for Save America in the US presidential election.
World’s Richest Entrepreneur Elon Musk has decided to support former US President Donald Trump both financially and politically. He has announced that he will be donating a sum of $45 million every month to a new political action committee backing the former president.
In the past, he has supported Trump though not financially. There were news reports that the two individuals have been conversing on issues of mutual interest. At different points of time, Musk has had different political views.
Before supporting Trump, he was neutral and had previously even voted for Joe Biden and supported the Democrats. Financially, this will be his major political donation. As Elon musk joining the trump campaign, this could be a game changer for Donald Trump’s election.
According to a Bloomberg report
Two days ago, tech entrepreneur Elon Musk made a sizable donation to America Pack. But it wasn’t until July 15th that the precise gift amount was disclosed in the election paperwork. Nevertheless, unidentified accounts have made this assertion in media stories.
Elon Musk will give $45 million monthly to support Trump's presidential campaign, The Wall Street Journal reports
Elon Musk plans to donate about $45 million a month for the work of the political action committee America PAC, supporting the election campaign of Donald Trump,… pic.twitter.com/f645Z2lu3B
— NEXTA (@nexta_tv) July 16, 2024
The Trump PAC organization filled its list of donors and other documents on Monday and this list did not include Musk who had already donated. The organization has already raised $8 million. The other donors to America PAC include 8VC co-founder Joe Lonsdale, former US Ambassador to Canada Kelly Craft as well as twin investors Cameron and Cameron Winklevoss.
Billionaire Elon Musk has donated to a super political action committee working to elect Donald Trump to the White House, a major gambit by the world’s richest person to make his imprint on the US political landscape.
According to The New York Times
if Elon Musk has indeed made this donation, it is remarkable. The great-grandson of financier Thomas Mellon gave $50 million to the super PAC backing Trump in the 2024 campaign, which is the highest donation to yet. But this donation wasn’t made until June 30.
Musk has contributed to a low-profile group called America PAC, according to people familiar with the matter, who requested anonymity to detail his plans. It’s unclear how much Musk has given, but the people characterized the figure as a sizable amount. The PAC is next required to disclose its list of donors on July 15.
The move highlights the growing influence of a technology mogul who tops the Bloomberg Billionaires Index with a net worth of $263.6 billion and his shift from a self-described political independent — who said he preferred to stay out of politics — into a figure who regularly uses his X social-media platform to espouse right-leaning views and assail Democrats.
Elon Musk has donated to a Super PAC working to elect Donald Trump to the White House.
Separately, Ken Griffin and Paul Singer, Republican billionaires who have criticized Trump, met with the former president to discuss donating to his campaign, according to people familiar with the discussions.
What Comes After the Trump Shooting
Neither Singer nor Griffin has made any commitment and no decision has been made about whether to contribute to Trump’s reelection, according to the people who requested anonymity to discuss private conversations.
The money injection from Musk comes at a time when Trump has overtaken his rival, President Joe Biden, in fundraising with the help of deep-pocketed Wall Street and corporate donors. Biden’s own money raising has dropped off following a calamitous debate that led prominent Democratic donors to put away their checkbooks.
Musk has yet to publicly endorse a candidate in the 2024 race and said earlier this year he did not anticipate financing either Trump or Biden’s election efforts, but his decision to open his pocketbook presents an opportunity for him to become a financial juggernaut for Republicans.
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