It has been reported that Elon Musk has made a significant donation to a super political action committee (PAC) supporting Donald Trump’s 2024 presidential campaign. This move, reported by Bloomberg on Friday, marks a major step by Musk to influence the U.S. political landscape.
According to sources familiar with the matter, Musk’s contribution went to America PAC, a low-profile group dedicated to backing Trump. While the exact amount of Musk’s donation has not been disclosed, it is described as a “sizable amount.” The PAC is set to reveal its list of donors on July 15, providing more transparency about the financial backing for Trump’s campaign.
Musk, who tops the Bloomberg Billionaires Index with a net worth of $263.6 billion, has previously described himself as a political independent, often expressing a desire to stay out of politics. However, his recent actions indicate a shift towards more active political involvement, particularly with right-leaning views. This shift is evident through his frequent use of the social media platform X (formerly known as Twitter) to criticize Democrats and support Republican viewpoints.
In March, Trump, who is anticipated to be formally nominated as the Republican Party’s candidate next week, met with Musk and other wealthy donors. Despite this meeting, Musk publicly denied any financial contributions to either candidate at that time. On March 6, he posted on X, “Just to be super clear, I am not donating money to either candidate for US President.” He also denied media reports in May that suggested he might take on an advisory role in a potential Trump administration.
Musk’s donation comes at a critical time as Trump has been outpacing President Biden in fundraising efforts, thanks to substantial contributions from Wall Street and corporate donors. Biden’s fundraising has seen a decline, especially after a controversial debate that led some Democratic donors to withdraw their support.
James Singer, a spokesman for the Biden campaign, responded to the news of Musk’s donation with strong criticism. “Arrogant billionaires only out for themselves are not what America wants or what America needs,” Singer said in a statement. He added, “Elon knows Trump is a sucker who will sell America out, cutting his taxes while raising taxes on the middle class by $2,500.” Singer emphasized Biden’s commitment to the middle class, suggesting that it would be a decisive factor in the upcoming election.
America PAC is working behind the scenes to enhance Trump’s campaign ground game. This includes extensive canvassing and get-out-the-vote efforts, particularly in key battleground states. According to federal records, America PAC has spent $15.8 million so far, with $13.1 million allocated to field operations. The PAC’s activities involve door-to-door persuasion, digital media, texting, and phone calls to engage voters.
Musk’s involvement in politics is seen as making him a formidable player in Washington. His wealth largely comes from his holdings in Tesla, SpaceX, and X. The political influence he wields is significant, especially as his companies frequently interact with federal agencies over various regulations. Trump’s proposed policies, such as dismantling Biden’s measures to support the electric vehicle industry, would directly impact Tesla. Despite past clashes, Musk and Trump have developed a closer relationship, with Musk advising Trump on issues related to electric vehicles and cryptocurrency.
Musk has yet to publicly endorse a candidate for the 2024 election, maintaining a position of neutrality in official statements. However, his financial support for America PAC positions him as a crucial financial supporter for Trump’s campaign. This involvement underscores the shifting dynamics of Musk’s political engagement and its potential impact on the upcoming election
