Musk invested $288 million in Trump campaign, reports WaPo
According to the Washington Post, Elon Musk has emerged as one of the most influential financial supporters in contemporary U.S. elections. Read Full Article at RT.com
TroibNews 
Elon Musk, CEO of SpaceX and Tesla, has emerged as the leading political donor for the 2024 US election cycle, contributing at least $288 million to Donald Trump’s presidential campaign, as reported by the Washington Post based on an analysis of recent Federal Election Commission filings.
Trump appointed Musk to head the newly established Department of Government Efficiency, which aims to reduce federal spending and regulations.
In a recent article, the Washington Post stated, “the staggering 2024 political spending by Musk” solidified his role within Trump’s political network, with some critics describing him as a “de facto, unelected co-president.”
Much of Musk’s political contributions were funneled through America PAC, a super PAC he co-founded to support Trump by rallying low-turnout voters in critical battleground states. The organization raised $263 million, with significant support from Musk’s close associates, including Tesla board member Antonio Gracias, Palantir co-founder Joe Lonsdale, and Sequoia Capital investor Shaun Maguire.
The report, which covers the period from November 26 to year-end, mentions that Musk contributed $11.2 million on December 31, labeled as “petition incentives.”
In October, Musk initiated a campaign, pledging “$1M to someone in swing states who signed our petition to support free speech & the right to bear arms.” Participants who signed could also earn $47 for referring a registered voter in battleground states like Pennsylvania, Georgia, Nevada, Arizona, Michigan, Wisconsin, and North Carolina.
Earlier FEC filings noted an in-kind contribution of nearly $40.5 million, bringing the total for petition incentives to at least $52.7 million.
According to the newspaper, Musk’s “investment in the 2024 election has already paid off enormously,” as his net worth has increased by over $200 billion since Trump’s win on November 5, largely driven by the skyrocketing stock price of Tesla, which has risen around 70% since the election, enhancing Musk’s wealth significantly. As of mid-December, his fortune was estimated to be about $442 billion.
Having previously presented himself as politically neutral, Musk publicly backed Trump after the failed assassination attempt on the Republican nominee on July 13.
Rohan Mehta contributed to this report for TROIB News
Trump appointed Musk to head the newly established Department of Government Efficiency, which aims to reduce federal spending and regulations.
In a recent article, the Washington Post stated, “the staggering 2024 political spending by Musk” solidified his role within Trump’s political network, with some critics describing him as a “de facto, unelected co-president.”
Much of Musk’s political contributions were funneled through America PAC, a super PAC he co-founded to support Trump by rallying low-turnout voters in critical battleground states. The organization raised $263 million, with significant support from Musk’s close associates, including Tesla board member Antonio Gracias, Palantir co-founder Joe Lonsdale, and Sequoia Capital investor Shaun Maguire.
The report, which covers the period from November 26 to year-end, mentions that Musk contributed $11.2 million on December 31, labeled as “petition incentives.”
In October, Musk initiated a campaign, pledging “$1M to someone in swing states who signed our petition to support free speech & the right to bear arms.” Participants who signed could also earn $47 for referring a registered voter in battleground states like Pennsylvania, Georgia, Nevada, Arizona, Michigan, Wisconsin, and North Carolina.
Earlier FEC filings noted an in-kind contribution of nearly $40.5 million, bringing the total for petition incentives to at least $52.7 million.
According to the newspaper, Musk’s “investment in the 2024 election has already paid off enormously,” as his net worth has increased by over $200 billion since Trump’s win on November 5, largely driven by the skyrocketing stock price of Tesla, which has risen around 70% since the election, enhancing Musk’s wealth significantly. As of mid-December, his fortune was estimated to be about $442 billion.
Having previously presented himself as politically neutral, Musk publicly backed Trump after the failed assassination attempt on the Republican nominee on July 13.
Rohan Mehta contributed to this report for TROIB News
