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.
I fully endorse President Trump and hope for his rapid recovery pic.twitter.com/ZdxkF63EqF
— Elon Musk (@elonmusk) July 13, 2024
Extreme incompetence or it was deliberate. Either way, the SS leadership must resign. https://t.co/0vYGrj6yuH
— Elon Musk (@elonmusk) July 14, 2024
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.
