Elon Musk Denies $45M monthly Donation Pledge To Trump’s Campaign

CEO of Tesla Motors and tech billionaire, Elon Musk has debunked reports claiming he is donating $45 million monthly to support Donald Trump’s presidential bid.

Despite launching a new super PAC aimed at aiding the Republican candidate, the world's richest man clarified the inaccuracies in media coverage during an interview on his platform, X.

“What’s been reported in the media is simply not true. I am not donating $45 million a month to Trump,” Musk stated emphatically.

The initial report by The Wall Street Journal, which cited sources familiar with the matter, sparked controversy. Musk confirmed the creation of America PAC, a super PAC intended to bolster Trump’s campaign through independent expenditures like advertisements and operational expenses. Unlike traditional political action committees, super PACs can raise unlimited funds but do not directly contribute to campaigns.

Several notable figures from the tech industry, including Ken Howery, Antonio Gracias, Shuan Maguire from Sequoia Capital, and the Winklevoss twins, are among the donors supporting America PAC. The PAC is led by Joe Lonsdale, a venture capitalist and co-founder of Palantir, who has close ties to Musk.

Musk emphasized that America PAC aims to remain nonpartisan and is not aligned with the “MAGA” movement, preferring the slogan “Make America Greater” to reflect his belief in fundamental American values.

In explaining his shift away from the Democratic Party, Musk highlighted that his values, such as meritocracy and minimal government intervention, align more closely with the principles represented by the Republican Party. He emphasized that his political stance does not adhere to a “cult of personality,” but rather focuses on broader ideals.