Newsroom
Elon Musk intends to contribute $45 million per month to a Super PAC aimed at supporting Donald Trump's electoral campaign, starting from July, as reported by the Wall Street Journal.
The tech mogul, who publicly endorsed Trump just two days ago, has already made a substantial initial donation to America Pac, although the exact amount will not be disclosed until the filing deadline on July 15, according to Bloomberg. Reports from both Bloomberg and the Wall Street Journal rely on sources familiar with Musk's plans. With an estimated net worth of $252 billion, Musk ranks among the wealthiest individuals globally.
If Musk fulfills his commitment to donate such a significant sum, it would mark an unprecedented contribution for the 2024 election cycle, noted the Wall Street Journal, citing the largest known donation so far as $50 million, contributed by the great-grandson of banker Thomas Mellon to a Trump-supporting Super PAC.
As of June 30, records reviewed by the New York Times indicate that Musk had not yet made any contributions to the Super PAC. The America Pac initiative has garnered support from Musk's associates in the tech industry, including Joe Lonsdale, co-founder of Palantir with Peter Thiel, a prominent backer of Trump's newly selected vice-presidential candidate, Ohio Senator JD Vance, according to the New York Times.
The Wall Street Journal also reported that cryptocurrency entrepreneurs and vocal Biden critics, the Winklevoss twins, have contributed to America Pac. They praised Trump in June as being favorable towards Bitcoin, cryptocurrencies, and business interests.
America Pac, launched this summer, aims to bolster Republican voter turnout in swing states, modeling Democratic party strategies for voter mobilization, according to the New York Times.
In March, Musk stated his intention not to donate to either US presidential candidate.
[Information sourced from WSJ, The Guardian]
