Billionaire Elon Musk’s Financial Contributions to Trump Now Total $118 Million
Elon Musk has recently donated $43.6 million to America PAC, bringing his total donations to the committee to at least $118.6 million since July, according to the latest federal records released on Thursday evening.
America PAC is a major political action committee that backs the Republican presidential candidate Donald Trump, particularly focusing on key battleground states like Pennsylvania. Established by Musk in May, he has been the primary source of the PAC’s funding. This latest contribution of $43.6 million positions him as the second-largest donor to Trump, trailing only behind Timothy Mellon, a banking heir who has contributed $150 million.
Musk, recognized as the richest individual globally, also committed $10 million to the Senate Leadership Fund, a super PAC aimed at supporting Republican candidates for the U.S. Senate. These donations were part of the filings for the first 16 days of October.
Comparative Fundraising Efforts in the Presidential Race
Despite Musk’s substantial contributions, Democratic presidential candidate Vice President Kamala Harris maintains a leading edge in fundraising over Trump, covering both direct campaign contributions and funds from affiliated super PACs. The recent filings, however, remind us of the 2016 election when former Secretary of State Hillary Clinton, despite having a significant financial advantage over Trump, did not secure victory.
While a larger number of billionaires seem to support Harris, Elon Musk’s active and public involvement in politics has sparked considerable controversy. Criticism has particularly focused on potential conflicts of interest due to his extensive business dealings, which include leading companies like SpaceX, Tesla, and X (formerly known as Twitter). These companies benefit significantly from government contracts and are heavily regulated by federal authorities, also facing numerous legal investigations.
Public Citizen, a watchdog organization, has expressed concerns that Musk’s political activities are largely motivated by a desire to reduce corporate accountability. They released a report on Tuesday suggesting that Musk’s support for Trump could be seen as an attempt to influence regulatory policies in his favor.
Musk himself has not been secretive about his regulatory ambitions. “If Trump wins, we have a chance to implement unprecedented deregulation and reduce government size,” he stated at a recent conference.
Furthermore, Trump has proposed appointing Musk to head a new federal “efficiency commission” if he wins the election—a proposal that Musk discussed with Trump during an interview on X in August. This move has raised questions about its legality, given Musk’s substantial government dealings.
The New York Times recently highlighted that such an appointment would allow Musk, a significant government contractor, to potentially influence the very regulatory bodies that oversee his operations, posing a significant conflict of interest.
This week, Musk also came under scrutiny not just for his business actions but for his campaign strategies. The America PAC was warned by the U.S. Department of Justice that its promotional tactic of hosting a daily $1 million lottery for voters in swing states could violate federal laws. Despite a brief halt, the initiative reportedly continued, as noted by New York magazine.
The latest financial disclosures from Thursday also noted that for the first time, funding for America PAC included donors other than Musk, with $2 million coming from former U.S. Secretary of Education Betsy DeVos and her family. Musk’s recent donations to America PAC were dispersed over four transactions: $11 million on October 4, $10 million on October 9, $7.9 million on October 11, and $14.7 million on October 15. This filing is expected to be the last public disclosure before the polls close on November 5.
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