Musk to give $45 mn a month to support Trump's run

July 16, 2024 09:55

Trump appears with bandaged ear at Republican Convention

Tesla CEO Elon Musk has said he plans to give USD 45 million a month to a new super political-action committee supporting former US President Donald Trump's presidential run, The Wall Street Journal reported, citing people familiar with the matter.

Other backers of the group called American PAC, include Palantir Technologies PLTR 2.14 per cent increase; green up pointing triangle co-founder Joe Lonsdale, the Winklevoss twins, former US ambassador to Canada Kelly Craft and her husband, Joe Craft, who is chief executive of coal producer Alliance Resource Partners ARLP -0.04 per cent decrease; red down pointing triangle, The Wall Street Journal reported.

America PAC, formed in June, is focused on registering voters and urging constituents to vote early and request mail-in ballots in swing states, according to one of the people.

The coalition assessed that the Democrats have historically had very robust "get out the vote" campaigns and took note of the money that the Biden camp has dedicated to so-called on-the-ground efforts in swing states.

America PAC will attempt to counter that. Currently, Musk is the world's richest person, with an estimated fortune of more than USD 250 billion. The money that Musk has said he plans to give to America PAC is an extraordinary amount, according to The Wall Street Journal report.

While it can be difficult to find the full scope of some political commitment, the largest known donation in the 2024 US presidential election so far is USD 50 million, which has been given by banker Thomas Mellon's great-grandson to a super PAC supporting Trump.

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