Business magnate Elon Musk has made a substantial donation of nearly $75 million to his political action committee (PAC), America PAC, in support of former President Donald Trump’s White House campaign. This information was revealed in a campaign finance filing with the Federal Election Commission. Musk, who leads Tesla and SpaceX, contributed a total of $74,950,020 to the PAC between July and September. The filing highlights Musk’s efforts to back Trump as he competes against Democratic candidate Vice President Kamala Harris in the upcoming presidential election on November 5.
Musk is currently the wealthiest person globally, with a net worth of $246.8 billion according to Forbes’ real-time billionaires list. He established America PAC back in May with the aim of supporting candidates who uphold America’s core values.
The mission statement of America PAC outlines its commitment to six key values: secure borders, sensible spending, safe cities, a fair justice system, self-protection, and free speech. Since its inception, it has become the seventh-largest outside spender during the 2024 election cycle by investing a total of $106,031,817 according to OpenSecrets.
Other filings from September show that America PAC received significant donations from various sources including Palantir Technologies co-founder Joe Lonsdale’s Lonsdale Enterprises and venture capitalist Doug Leone.
Musk publicly endorsed Trump in July shortly after an unsuccessful assassination attempt at one of Trump’s rallies. In October, he appeared alongside Trump at another rally where he encouraged people to register to vote.
As for his upcoming plans in Pennsylvania next week,Musk announced that he will be giving a series of talks throughout the state. As per the latest filing report on September 30th,America PAC had approximately $4 million available for use.
Please note that Tom Ozimek contributed to this report.