Elon Musk, one of the world’s richest people, is planning to donate roughly $45 million every single month to a PAC backing Donald Trump’s presidential campaign, according to reports.
The Tesla and SpaceX boss, who also owns the social media platform X, had already reportedly donated a “sizeable amount” to a pro-Trump fundraising group, but the amount was unknown.
Now, The Wall Street Journal has reported the longtime electric vehicle advocate will be donating the staggering monthly sum to a new pro-Trump super PAC alongside coal billionaire Joe Craft, Palantir co-founder Jo Lonsdale and the Winklevoss twins, citing anonymous sources.
It comes Musk publicly endorsed Donald Trump for the first time following Trump’s attempted assassination on Saturday, marking a new milestone in his years-long journey from self-described “centrist” and “utopian anarchist” to red-pilled conservative crusader.
“I fully endorse President Trump and hope for his rapid recovery,” Musk posted on X, formerly Twitter, shortly after the attack.
Hours later, discussing the apparent security failures that allowed a gunman to get so close to Trump, Musk added: “Extreme incompetence or it was deliberate. Either way, the Secret Service leadership must resign.”
The $45 million per month would be a very large political donation in the context of American politics, although not overwhelming.
During the 2020 election, pro-Trump campaign groups raised a total of just under $1.1 billion, according to the campaign finance non-profit OpenSecrets, while pro-Biden groups raised around $1.62 billion.
In 2024 so far, pro-Trump groups have hauled in roughly $388 million, while pro-Biden groups netted $391 million. The biggest donors in the 2020 cycle, counting all federal elections, were reportedly Sheldon and Miram Adelson, with a total of $218 million, and Michael Bloomberg, with a total of just under $153 million.
Hence, if Musk indeed donates $45 million each month July through October – $180 million altogether – that would represent about 9 percent of the entire campaign chest of 2020’s winning candidate.
The Biden campaign fired back at Musk’s decision to back Trump, branding him an “arrogant billionaire only out for [him]self” who was seeking tax breaks at the expense of America’s middle classes.
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