Elon Musk Goes Back On Donating Money To Presidential Candidates; Funds Trump's Campaign

Elon Musk, the CEO of Tesla and the richest person on the planet, contributed a significant portion of his nearly USD 250 billion fortune to a group that backed former President Donald Trump prior to the election, according to Bloomberg. This is the billionaire's most overt endorsement of the Republican Party, despite his increased public commentary on American politics over the past year.

Musk's exact contribution sum has not been made public. But on July 17, America PAC is expected to make public its list of contributors, at which point it will be clear what kind of financial support Trump is receiving for his re-election.

Elon Musk critising Biden government

Despite not having formally endorsed a single candidate for the 2024 presidential election, Elon Musk has been more outspoken about his political beliefs on Platform X, formerly known as Twitter.

Musk has been publicly criticizing President Joe Biden's immigration policies in recent months and has shown his strong support for conservative viewpoints by aligning himself with the conservative "influencers" on social media.

When Musk visited Eagle Pass, Texas, in September of last year, he said that the immigration situation was "beyond insane and growing fast."

Musk not supporting any candidate

Remarkably, Musk had declared on X in March that he had no intention of lending financial support to any presidential contender. He wrote, "Just to be very clear, I am not giving money to any candidate for US President."

Fund raising of the candidates

Musk's alleged donation falls during a substantial period of time when Trump's campaign is raising money. A well-known superPAC, Make America Great Again Inc., declared that it had raised USD 104 million in the second quarter of 2024.

Furthermore, the Republican National Committee and Trump's campaign announced raising USD 331 million in total over the previous three months. This exceeds the USD 264 million that the Democratic National Committee and President Biden's re-election campaign are said to have raised in the same time frame.