Just four months ago, Elon Musk stated he wouldn’t be “donating money to either” presidential candidate. Now, reports indicate he is pledging to donate $45 million each month to a super political action committee supporting former president Donald Trump.
The Wall Street Journal, citing sources familiar with the situation, reports that Musk will support America PAC, a group established in June focused on voter registration and “get out the vote” efforts. Musk is expected to begin donating to the committee in July, potentially contributing up to $180 million in total.
This marks a significant shift for Musk, who has increasingly aligned with right-wing politics and strengthened his ties with Trump. Despite Trump’s well-known opposition to electric vehicles, Musk officially endorsed Trump on Saturday.
“I fully endorse President Trump and hope for his rapid recovery,” Musk stated on X, just hours after an assassination attempt on the former president.
Over recent months, Musk has reportedly developed a closer relationship with Trump, conversing with him “several times a month” on topics such as the U.S. Space Force, immigration, electric vehicles, cryptocurrency policy, and a potential advisory role if Trump secures a second term. Musk has denied these reports.
Axios reports that Musk, former Fox News host Tucker Carlson, and “Paypal mafia” member David Sacks encouraged Trump to choose Vance as his running mate. Vance, a Republican senator from Ohio, is a former venture capitalist with connections to Peter Thiel, a co-founder of Palantir and PayPal.
As of June 30, America PAC has received about $8.75 million from donors, much of which has already been spent. The group is supported by several significant donors from private equity and venture capital backgrounds.
Antonio Gracias, founder and CEO of Valor Equity Partners and an early investor in Tesla, is one of America PAC’s major donors, contributing $1 million. Doug Leone, a Sequoia Capital partner, and Joe Craft, CEO of Alliance Resource Partners, have also each donated $1 million, as has Palantir co-founder Joe Lonsdale through Lonsdale Enterprises. Jimmy John Liautaud, founder and former chairman of Jimmy John’s, also donated $1 million, having previously contributed $212,000 to Trump’s 2020 presidential campaign.
Other notable donors include the billionaire Winklevoss twins and Sequoia’s Shaun Maguire, who donated $300,000 to Trump and his affiliates after Trump was convicted on 34 felony counts in May.