Billionaire Elon Musk has significantly boosted his political donations to former President Donald Trump, contributing about $75 million to America PAC, his pro-Trump political action committee, over the past three months.
According to filings with the Federal Election Commission released Tuesday, the donations were made in three large payments: $15 million in July and $30 million each in August and September.
America PAC has spent $72 million of Musk’s contributions on voter turnout efforts for Trump and other Republican candidates. The remaining funds have been allocated to mail and digital advertising, with Musk planning to contribute even more, with his budget potentially increasing to between $140 million and $180 million.
Beyond his financial support, the Tesla and SpaceX CEO and owner of X, formerly Twitter, has become a key adviser to Trump. He reportedly speaks with the former president several times a week and plays an active role in campaign strategy. Trump has suggested many times that, if elected, he would appoint Musk to lead a “government efficiency commission.”
Tesla CEO Elon Musk (right) endorses Republican presidential nominee former President Donald Trump during a campaign rally at the Butler Farm Show fairgrounds on October 5 in Butler, Pennsylvania, the first time Trump has returned to Butler since he was injured during an attempted assassination on July 13. Musk has significantly boosted his political donations to Trump, contributing about $75 million to America PAC, his pro-Trump political action committee, over the past three months.
Photo by Kevin Dietsch/Getty Images
This marks a major shift for Musk, who once vowed not to get involved in politics. Now, he’s investing millions in Trump’s campaign and has openly admitted he’s “f***ed” if Trump loses.
Musk’s donations extend beyond Trump’s campaign. After the assassination attempt on Trump in Butler, Pennsylvania, Musk donated $100,000 to the families of those wounded and killed in the attack, including Corey Comperatore, a volunteer firefighter who died while protecting his family.
Quiet donations
In addition to supporting Trump, Musk has directed millions toward conservative causes tied to Trump allies and other Republican candidates, quietly funneling money into groups linked to Trump aide Stephen Miller.
One such group, Citizens for Sanity, which is connected to Miller’s nonprofit legal organization, received more than $50 million from Musk to fund anti-immigrant and anti-LGBTQ ads in battleground states ahead of the 2022 midterm elections, according to a report by The Wall Street Journal.
He also backed Florida Governor Ron DeSantis‘ presidential bid, with much of the money going to the pro-DeSantis PAC, Never Back Down. In 2023, he contributed $10 million to DeSantis’ failed campaign.
Musk’s influence has also extended to local politics, as he invested hundreds of thousands of dollars into attack ads aimed at unseating liberal district attorney José Garza in Austin, Texas. Despite Musk’s efforts, Garza easily won his primary.
Reuters reported on Wednesday that since 2022, Musk has given millions to Building America’s Future, a conservative political group that also launched ads and social media campaigns targeting President Joe Biden.
Musk’s endorsement of Trump has raised speculation that he’s motivated by the regulatory pressure his businesses have faced under the Biden administration.
Since Biden took office, Musk’s companies have come under increased scrutiny, with investigations by at least seven federal agencies and the U.S. Attorney’s Office for the Southern District of New York covering issues like discrimination and environmental compliance.
Many see Musk’s growing involvement in politics as a way to influence regulations in his favor. Supporting Trump, who has pledged to reduce regulatory oversight, could ease the scrutiny on his businesses.
Newsweek reached out to Musk’s team for comment by email on Wednesday.
