Tech mogul Elon Musk has pledged substantial financial backing to former President Donald Trump’s campaign, contributing $45 million a month to a newly established super PAC, America PAC, dedicated to re-electing Trump. This move comes in the wake of an assassination attempt on Trump during a rally in Butler, Pennsylvania.
Musk Endorses Trump: Elon Musk, the world’s wealthiest individual and CEO of Tesla, has publicly endorsed Trump, expressing his full support and wishing the former president a swift recovery. “I fully endorse President Trump and hope for his rapid recovery,” Musk posted on X, formerly known as Twitter.
Significant Financial Contribution: Bloomberg reports that Musk has allocated a portion of his nearly $250 billion fortune to America PAC, marking a significant show of support for the Republican party. While the exact donation amount remains undisclosed, sources familiar with the matter confirmed a substantial contribution.
America PAC’s Role: Founded earlier this year, America PAC has been investing in GOP-aligned canvassing efforts. Despite its low profile, the PAC is now poised to play a crucial role in Trump’s campaign, bolstered by Musk’s financial support.
Campaign Fundraising: In June, Trump’s campaign raised nearly $112 million, while President Joe Biden’s campaign, maintaining a cash advantage, raised $127 million. These figures exclude the large donations to super PACs like America PAC, which are not subject to contribution limits.
Calls for Secret Service Chief’s Resignation: In addition to his financial support, Musk has criticized the Secret Service chief, calling for his resignation following the attack on Trump.
No Immediate Response: Neither America PAC nor Musk responded to Forbes’ request for comment on the substantial financial backing.
Musk’s involvement marks a new level of engagement in U.S. politics, signaling his growing influence and support for the Republican party. As the election approaches, his contributions are set to significantly impact the campaign landscape.
