Federal Election Commission (FEC) filings and public financial disclosures

Elon Musk Spends $119 Million via America PAC, Becomes Trump's Second-Largest Financial Backer

Nov 1, 2024, 03:30 PM

Elon Musk, the tech and business titan, has spent at least $119 million to support former President Donald Trump's campaign for the 2024 US Presidential Election. This significant financial backing has been channeled through Musk's America PAC, which has received tens of millions of dollars in donations from him. Federal filings show that Musk contributed an additional $43.6 million to the PAC by October 16. Musk's involvement in the election underscores the increasing influence of billionaire donors in US politics, with a report indicating that 150 billionaire families have spent a total of $1.9 billion in support of presidential and congressional candidates this cycle. America PAC, formed this summer, is a key vehicle for Musk's contributions. Critics argue that Musk's business philosophy, which has been applied at companies like Twitter and Tesla, could lead to dramatic changes in federal government operations if Trump is elected. Musk's support makes him Trump's second-largest financial backer, highlighting the intersection of finance, technology, and politics in the current election cycle.