Billionaire Elon Musk has announced his intention to donate $45 million a month to a new super political-action committee (PAC) backing former President Donald Trump’s reelection campaign.
According to the Wall Street Journal, the Tesla founder plans to start his donations in July to America PAC, which supports Trump’s presidential bid. However, Musk’s name was not listed on the group’s recent Monday filing, which revealed that it had raised over $8 million.
Despite Musk’s absence, the super PAC, formed in late May, has garnered contributions from other prominent entrepreneurs, including Palantir co-founder Joe Lonsdale and crypto billionaires Cameron and Tyler Winklevoss, as shown in the filing.
Lonsdale contributed $1 million to America PAC through Lonsdale Enterprises, an entity associated with the tech investor, multiple outlets reported. The Winklevoss twins each donated $250,000 to the super PAC, according to the Federal Election Commission (FEC) filing.
Elon Musk remains the only Fortune 100 CEO to fully endorse a candidate in the 2024 presidential race. The SpaceX CEO declared his support for Trump following an assassination attempt at a rally in Butler, Pennsylvania, on Saturday.
“I fully endorse President Trump and hope for his rapid recovery,” Musk wrote on X, while sharing a video of the moment after a bullet struck Trump’s right ear.
I fully endorse President Trump and hope for his rapid recovery pic.twitter.com/ZdxkF63EqF
— Elon Musk (@elonmusk) July 13, 2024
Musk has previously voted for Democratic candidates, including President Joe Biden, in the last three election cycles. However, in recent years, he has expressed dissatisfaction with Democratic policies, particularly Biden’s unwavering support for labor unions and his decisions on immigration and border issues.