The “extraordinary” sum will reportedly be donated to a group focused on helping Donald Trump win the election
According to the Wall Street Journal, tech billionaire Elon Musk plans to donate approximately $45 million per month to a new super political action committee supporting former US President Donald Trump.
The report indicates that Musk intends to begin donating this month to a group called America PAC, which aims to combat similar Democratic campaigns by focusing on voter outreach.
The WSJ noted that if Musk follows through with this donation, it would be “an extraordinary sum.”
As of the end of June, according to a financial filing submitted to the Federal Election Commission on Monday, the tech mogul had not made any contributions to the group.
The filing revealed that other high-profile entrepreneurs, including Palantir software company co-founder Joe Lonsdale and crypto billionaires Cameron and Tyler Winklevoss, are also backing the super PAC, which was established in late May. According to media reports, Lonsdale donated $1 million, while Cameron and Tyler Winklevoss each contributed $250,000.
The group has raised $8.75 million since its inception and had just under $100,000 in cash as of the end of June, according to the federal filing.
Musk, one of the world’s richest individuals with an estimated net worth of $252 billion, publicly endorsed Trump shortly after the Republican presidential nominee survived an assassination attempt at a campaign rally in Pennsylvania. Several shots were fired as the former president delivered a speech to a campaign rally, with one of them grazing his right ear.
“I fully endorse President Trump and hope for his rapid recovery,” Musk wrote on X (formerly Twitter) on Saturday.
This commitment contradicts Musk’s previous pledge to stay out of the 2024 election campaign, where the billionaire had described himself as politically independent. In March, Musk stated that he would not be donating to either presidential candidate.
However, since 2022, Musk has repeatedly criticized the current White House administration. In late May, the entrepreneur denounced the guilty verdict of a Manhattan jury as Trump was convicted on 34 charges of “falsifying business records.”
In recent months, Musk has seemed to be drawing closer to Trump. The WSJ reported in May that the Tesla CEO and the former president had engaged in secret talks about a potential White House advisory role for Musk in a second Trump administration.