Elon Musk has announced intentions to donate approximately $45 million per month to a new super political-action committee (Super PAC) in support of Donald Trump’s election campaign, as reported by the Wall Street Journal. The funds are designated for America PAC, aimed at bolstering Trump’s candidacy by promoting voter registration, early voting, and mail-in ballots in swing states leading up to the November general election.
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Musk formally endorsed Trump’s bid for the US presidency, expressing support following an incident where Trump survived a shooting at a political rally in Pennsylvania. He made these statements on X, the social media platform he acquired in 2022, formerly known as Twitter. Musk likened Trump to Theodore Roosevelt during his endorsement.
According to the Wall Street Journal report, Musk plans to commence his monthly donations starting next month. As the world’s wealthiest individual with an estimated net worth of $250 billion, Musk has increasingly aligned himself with Trump throughout the 2024 US election cycle. In March, the two met at a donor breakfast hosted by billionaire Nelson Peltz in Florida.
While individual campaign contributions in the US are capped at $3,300 per person, loopholes in campaign finance regulations permit major donors to contribute significantly to political action committees (PACs) that support candidates. This mechanism allows Musk to contribute substantial amounts to support Trump’s campaign efforts through America PAC.
