Elon Musk plans to contribute $45 million a month to a Super PAC focused on electing Donald Trump, starting in July, according to a report by the Wall Street Journal.
The tech billionaire, who endorsed Trump two days ago, has already made a substantial donation to the America PAC.
The exact amount of this donation will remain undisclosed until election filings are made public on 15 July, Bloomberg reported.
These reports, based on information from unnamed sources familiar with Musk’s plans, highlight the significant influence of Musk, who has an estimated net worth of $252 billion.
If Musk proceeds with this level of contribution, it would be “an extraordinary sum,” as noted by the Wall Street Journal, which compared it to the largest known donation of the 2024 election cycle so far: $50 million from the great-grandson of banker Thomas Mellon to a pro-Trump Super PAC.
As of 30 June, records reviewed by the New York Times indicated that Musk had not yet made any donations to the Super PAC.
The America PAC has already received support from some of Musk’s associates in the tech industry.
According to the New York Times, Joe Lonsdale, co-founder of the software company Palantir, has contributed to the PAC.
Peter Thiel, a major political donor to Trump’s vice-presidential pick, Ohio Senator JD Vance, is also involved.
The Winklevoss twins, known for their involvement in cryptocurrency and criticism of Joe Biden’s regulatory policies, have also contributed.
They described Trump as “pro-Bitcoin, pro-crypto, pro-business” in June, as reported by the Wall Street Journal.
Launched this summer, America PAC aims to bolster Republican voter turnout efforts in swing states, mirroring the Democratic Party’s strategies, according to the New York Times.
In March, Musk stated that he would not be donating to any presidential candidates.
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