Elon Musk intends to allocate $45 million per month starting from July towards a Super PAC that supports Donald Trump's electoral campaign. This revelation was brought forth according to sources cited by The Wall Street Journal and Bloomberg.
The entrepreneur, recently expressing his endorsement of the presidential candidate, has committed an undisclosed sum to America PAC. Details regarding the donation will be disclosed in election records on July 15th, as per reports from the financial news service.
Written by anonymous sources who are familiar with Musk's plans, these revelations come at a time when he boasts an estimated wealth of $252 billion, positioning him among the world’s richest individuals.
Should this substantial contribution materialize, it would be unprecedented in magnitude for the 2024 election cycle, as highlighted by The Wall Street Journal, comparing it to a previous donation totaling $50 million made by an heir of Thomas Mellon.
Up until June's end, Elon Musk had not yet contributed financially to America PAC, according to findings from the New York Times review of their financial records.
Among those backing this Super PAC are individuals linked with Musk in various sectors, as reported by The Wall Street Journal. This includes Joe Lonsdale and Peter Thiel's associates such as JD Vance, Ohio senator and a close affiliate to the presidential candidate. Additionally, the Winklevoss twins—known for their involvement with cryptocurrency ventures—have expressed support for Trump in June.
America PAC was launched this summer with a strategy aimed at replicating Democratic voter mobilization strategies by intensifying Republican voter participation initiatives within crucial swing states, as per The New York Times.
Read next
"Big Tech invests $155B in AI this year, with hundreds of billions more planned"
Major Tech Firms Invest Heavily in AI Development
The largest corporations in the U.S. have poured $155 billion into artificial intelligence development this year, exceeding the federal government’s spending on education, training, employment, and social services combined in the 2025 fiscal year to date.
Recent financial reports from
"Airbnb guest accuses host of doctoring photos in £12K damage dispute"
Short-Term Rental Firm Apologizes After False Damage Claims
A London-based academic received an apology and a full refund from a short-term rental company after a host accused her of causing significant damage to an apartment, using images she believes were digitally altered.
The company reviewed the case and refunded her
"Amazon's grim financial forecast fuels tariff concerns"
Amazon did not ease worries about how Donald Trump’s extensive tariffs could impact its online retail business as it released its latest quarterly results on Thursday. Investor enthusiasm for the tech company wavered in response.
Amazon’s second-quarter earnings surpassed Wall Street’s predictions. The company reported a 13.