Elon musk, a tech entrepreneur, has stated that he intends to contribute approximately $45 million per month to a new fund supporting Donald Trump for president, according to the Wall Street Journal.
Musk’s contributions will benefit America PAC, a political organisation that will promote voter registration, early voting, and mail-in ballots among citizens in swing states ahead of the November general election, according to the Journal, citing people familiar with the situation.
Musk is among several prominent sponsors of the new fund, which also reportedly includes Palantir co-founder Joe Lonsdale, former US ambassador to Canada Kelly Craft, and cryptocurrency investors Tyler and Cameron Winklevoss. Following a shooting at a political gathering in Butler, Pennsylvania, the Tesla creator formally endorsed Trump’s candidature for president of the United States on Saturday.
“I fully support President Trump and wish him speedy recovery,” Musk posted on the social media platform X, which he acquired in 2022. Musk, the world’s wealthiest individual with an estimated net worth of $250 billion, has grown increasingly friendly with Trump ahead of the 2024 US election.
In March, the two met in person at a donor breakfast hosted at billionaire Nelson Peltz’s Florida home. Though individual campaign donations in the United States are limited to $3,300 per person, loopholes in the campaign finance system allow political megadonors to give to funds known as political action committees, or “PACs,” that promote candidates.
Trump had previously criticised postal and absentee voting, but he backtracked as it became evident that Democrats had an advantage among mail voters.
