Elon Musk, the CEO of Tesla and SpaceX, has announced plans to donate $45 million a month to a new super PAC supporting former President Donald Trump’s bid for re-election. This information comes from a report by The Wall Street Journal, citing anonymous sources close to the matter.

Financial Contributions

As of the end of June, Musk had not yet contributed to the super PAC, named America PAC, according to a recent quarterly financial filing with the Federal Election Commission (FEC).

The super PAC, which was established in late May, has already attracted significant contributions from other prominent entrepreneurs:

• Joe Lonsdale, co-founder of Palantir, donated $1 million through Lonsdale Enterprises.
• Cameron and Tyler Winklevoss, crypto billionaires, each contributed $250,000.

Financial Standing

Between its inception and the end of June, America PAC has raised $8.8 million and spent $7.8 million, leaving it with just under $1 million in cash on hand.

Musk publicly endorsed Trump on Saturday, shortly after the former president survived an assassination attempt at a campaign rally. The endorsement and the planned financial support come as Trump officially secured the Republican nomination at the National Convention in Milwaukee.

Elon Musk’s substantial financial pledge to America PAC underscores the increasing involvement of high-profile entrepreneurs in the political arena. With other significant contributions from figures like Joe Lonsdale and the Winklevoss twins, America PAC is set to play a crucial role in the upcoming presidential election.