Elon Musk donates to Donald Trump, tapping vast fortune to swing US presidential race
- The world’s richest person is said to have contributed a sizeable amount to a Super PAC working to help the Republican candidate beat Biden
Billionaire Elon Musk has donated to a super political action committee working to elect Donald Trump to the White House, a major gambit by the world’s richest person to make his imprint on the US political landscape.
Musk has contributed to a low profile group called America PAC, according to people familiar with the matter, who requested anonymity to detail his plans. It is unclear how much Musk has given, but the people characterised the figure as a sizeable amount. The PAC is next required to disclose its list of donors on July 15.
The move highlights the growing influence of a technology mogul who tops the Bloomberg Billionaires Index with a net worth of US$263.6 billion and his shift from a self-described political independent – who said he preferred to stay out of politics – into a figure who regularly uses his X social-media platform to espouse right-leaning views and attack Democrats.
The money injection from Musk comes at a time when Trump has overtaken his rival, US President Joe Biden, in fundraising with the help of deep-pocketed Wall Street and corporate donors.
Biden’s own money raising has dropped off following a calamitous debate that led prominent Democratic donors to put away their chequebooks.
Musk has yet to publicly endorse a candidate in the 2024 race and said earlier this year he did not anticipate financing either Trump or Biden’s election efforts, but his decision to open his pocketbook presents an opportunity for him to become a financial juggernaut for Republicans.
