Elon Musk Has Given $75 Million To Pro-Trump Super PAC—So Far
by Alison Durkee · ForbesTopline
Tesla CEO Elon Musk gave about $75 million last quarter to a super PAC that has heavily propped up former President Donald Trump’s election bid, according to a filing released Tuesday, the first concrete indicator of how much the world’s richest person is spending to help elect Trump.
Key Facts
Musk gave $74,950,000 to America PAC between July 1 and September 30, the most recent date for which filings are available, according to a filing with the Federal Election Commission.
His donations made up virtually all of the $74,950,020 the PAC reported taking in last quarter.
The FEC filing is the first confirmation that Musk has poured money into the super PAC, following early reports he was giving as much as $45 million per month—which he later denied—and later suggestions he was contributing most of the group’s total budget.
America PAC has reportedly become primarily responsible for the Trump campaign’s ground game and knocking on voters’ doors, as a recent FEC ruling gave super PACs—which are formally separate from campaigns—more leeway to coordinate directly with campaigns on those efforts, and recently made headlines for offering supporters $47 if they get signatures on a petition from swing state voters.
The PAC has also reportedly faced stumbling blocks, replacing its initial vendor for the canvassing operations and facing issues with a smartphone app used to confirm its paid canvassers are actually knocking on voters’ doors, according to The Guardian.
Musk has also become one of Trump’s most vocal supporters ahead of the election, speaking with Trump in a “Spaces” discussion on X in August, issuing messages in support of the ex-president and appearing with him at a campaign rally earlier in October.
What To Watch For
Since the FEC filing only reflects donations through Sept. 30, it still remains to be seen how much Musk has given since then, and how much he’ll give in total through Election Day. It also remains to be seen what will happen if Trump wins the election, as the ex-president has suggested he could make Musk the “secretary of cost-cutting.”
Who Else Has Elon Musk Donated To?
FEC records show Musk has only really ramped up his documented political giving this past summer, giving more than $200,000 to the National Republican Congressional Committee that helps elect GOP lawmakers to the House and $10,000 each to Republican parties in Utah and California. He also gave to failed Utah House candidate Colby Jenkins, a Republican, and gave $5,000 to a PAC sponsored by Rep. Ken Calvert, R-Calif. The Wall Street Journal reports the billionaire has actually been a prolific donor to Republican causes for years, however, giving more than $50 million before the 2022 midterms to a group called “Citizens for Sanity” that ran attack ads against Democrats and spending $10 million helping Florida Gov. Ron DeSantis’ presidential campaign in the GOP primaries. Musk routed those donations through various groups to conceal his involvement, according to the Journal. He also reportedly spent more than $650,000 opposing a local prosecutor in Travis County, Texas, in the Democratic primary race earlier this year.
Forbes Valuation
Forbes values Musk’s net worth at an estimated $246.8 billion as of Tuesday evening, making him the richest person in the world.
Which Other Billionaires Support Trump And Kamala Harris?
Musk is one of at least 49 billionaires who have expressed their support for Trump. The ex-president’s biggest supporter has been billionaire heir Timothy Mellon, who has given $126 million to the pro-Trump super PAC Make America Great Again Inc. Other billionaire supporters include Linda McMahon, wife of wrestling mogul Vince McMahon; ABC Supply cofounder Diane Hendricks; Miriam Adelson, widow of casino magnate Sheldon Adelson, and oil and energy billionaires Kelcy Warren and Timothy Dunn. Vice President Kamala Harris also has her fair share of billionaire backers, with more than 75 endorsing her or donating to groups backing her, including LinkedIn cofounder Reid Hoffman, former New York City mayor Michael Bloomberg, former Facebook COO Sheryl Sandberg and director Steven Spielberg, who have all donated at least $1 million.
Key Background
Musk’s financial support for Trump comes as the ex-president’s fundraising has lagged behind Harris’. While Trump and President Joe Biden were more closely matched in terms of fundraising, Democrats’ giving skyrocketed when Harris entered the race in August, and her campaign has reportedly taken in more than $1 billion since Biden dropped out. (The Trump campaign, by contrast, has raised $309.2 million through the end of August, and announced it and affiliated groups raised $160 million in September.) Musk’s outspoken support for Trump also marks somewhat of an about-face for the Tesla CEO: In addition to reportedly supporting DeSantis during the GOP primary, Musk has previously supported Democrats and criticized Trump, saying in 2016 the then-candidate “doesn’t seem to have the sort of character that reflects well on the United States,” and saying in 2022 that Trump should “hang up his hat & sail into the sunset.”