Elon Musk, the world’s wealthiest individual with an estimated net worth of $250 billion, has pledged approximately $45 million monthly to support Donald Trump in the 2024 US presidential election.
The Wall Street Journal reported that the funding will support America PAC, a political group promoting voter registration and early voting in swing states.
Musk’s endorsement of Trump followed after the former president survived an assassination attempt at a rally in Butler, Pennsylvania. Musk stated, “I fully endorse President Trump and hope for his rapid recovery,” on the social media platform X, which he acquired in 2022.
Several notable figures are joining Musk in backing this initiative, including Palantir co-founder Joe Lonsdale, former US ambassador to Canada Kelly Craft, and cryptocurrency investors Tyler and Cameron Winklevoss.
Musk and Trump have demonstrated a growing camaraderie throughout the election cycle, highlighted by a meeting at a donor event in Florida hosted by billionaire Nelson Peltz.
While individual campaign donations are limited to $3,300 in the United States, political action committees (PACs) provide a mechanism for significant electoral contributions. This approach enables political mega-donors like Musk to exert substantial influence.
Interestingly, Trump, who previously criticized mail and absentee voting, has moderated his views, recognizing the Democratic advantage among mail-in voters.
