Tesla CEO Elon Musk has announced plans to contribute about $45 million monthly to a new super political-action committee (Super PAC) backing Donald Trump’s election campaign. As reported by the Wall Street Journal, these funds will support America PAC, which focuses on increasing voter registration, early voting, and mail-in ballots in key swing states ahead of the November election.
Musk officially endorsed Trump’s candidacy on Saturday, following Trump’s survival of a shooting incident at a Pennsylvania rally. On X, formerly known as Twitter, Musk expressed his full support for Trump and wished for his swift recovery, drawing a comparison between Trump and Theodore Roosevelt.
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The Wall Street Journal notes that Musk intends to start his donations next month. As the world’s richest individual, with a net worth of around $250 billion, Musk has increasingly aligned himself with Trump during the 2024 election cycle. Individual campaign donations in the U.S. are limited to $3,300, but loopholes in campaign finance laws enable mega-donors like Musk to contribute substantially to PACs, allowing him to significantly support Trump’s campaign through America PAC.
