The Wall Street Journal announced on Monday that tech billionaire Elon Musk has now pledged to donate a stunning $45 million a month to a new political action committee that supports former President Trump.
Musk made his declaration the same day that Sen. JD Vance (R-Ohio) was announced as the official nominee of the Republican Party.
PAC will mostly concentrate on voter engagement and registration initiatives in an effort to counter the Democratic Party’s historically effective comparable operations.
The Winklevoss twins, software entrepreneur Joe Lonsdale, former Canadian ambassador, and Kentucky Senate candidate Kelly Craft, together with her husband, coal executive Joe Craft, are among the other prominent supporters of the PAC, according to the Journal.
This would probably rank among the biggest contributions made to the presidential campaign in 2024.
Musk’s anticipated spending might reach hundreds of millions of dollars, which would be a record.
Musk is estimated by Forbes to be worth $252 billion.
In addition to heading space company SpaceX and the social media network X, he serves as CEO of electric vehicle manufacturer Tesla.
Based on federal documents, America PAC was founded in May and registered in Texas. As of the end of June, the company had just under $100,000 in cash on hand.
A filing released on Monday states that the group raised $8.75 million in the second quarter.
This month, Musk will start making donations, the Journal reports.
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