Tech billionaire Elon Musk said he will donate $45 million per month to a new political action committee that supports former President Trump. The Wall Street Journal reported Monday..
Musk’s announcement came on the same day that Trump was nominated as the Republican candidate and picked Sen. J.D. Vance (R-Ohio) as his running mate.
According to the Wall Street Journal, the USA PAC will focus primarily on voter outreach and registration efforts to counter a traditionally strong Democratic campaign.
According to The Wall Street Journal, other notable backers of the PAC include the Winklevoss twins, tech entrepreneur Joe Lonsdale, former ambassador to Canada and Kentucky Senate candidate Kelly Craft and her husband, coal executive Joe Craft.
The donation is likely to be one of the largest in the 2024 presidential election, and Musk’s pledge to spend could reach hundreds of millions of dollars, making it an unprecedented amount.
Musk is worth about $252 billion, according to Forbes magazine. He is CEO of electric car maker Tesla, and heads space company SpaceX and social media platform X.
America PAC was formed in May and registered in Texas. Federal filingsThe group raised $8.75 million in the second quarter, it said. Documents submitted on MondayAs of the end of June, the company had just under $100,000 in cash on hand.
According to The Wall Street Journal, Musk plans to start donating this month.
The pledge breaks with an earlier promise from Musk to stay out of the 2024 election, which he endorsed on Saturday, shortly after former President Trump survived an assassination attempt.
“I fully support President Trump and wish him a speedy recovery,” Musk wrote in a post on his social platform X, alongside a video of the former president standing and pumping his fist after being shot in the ear.
Musk has appeared to grow closer to Trump in recent months, Journal coverage In late May, the billionaire and the former president reportedly discussed a possible advisory role for Musk in a second Trump administration.
Musk’s involvement with the USA PAC was first reported by Bloomberg.
