Tesla CEO Elon Musk has made a significant financial contribution of nearly $75 million to support Donald Trump‘s bid for the presidency. This donation was made in the third quarter to America Pac, Musk’s political action committee, as revealed by a federal filing on Tuesday.
What Happened: The committee has already expended over $96 million to back Trump, as per the independent non-profit OpenSecrets, with an additional $10 million allocated to assist Republicans in congressional races, Financial Times reported on Wednesday. Musk endorsed Trump in July after the candidate survived an assassination attempt at a rally in Butler, Pennsylvania.
Musk’s substantial financial support positions him as one of Trump’s largest benefactors in this election cycle, as the former president seeks to close a fundraising gap with Democratic contender Kamala Harris. The Financial Times poll tracker indicates Harris leading Trump by 2.6% nationally, though the contest remains competitive in key swing states.
In addition to Musk, Trump has garnered significant backing from Miriam Adelson, who contributed $95 million to her pro-Trump super PAC, Preserve America. Musk, who previously supported Democrats, has described the 2024 election as pivotal for US democracy, expressing concerns about illegal immigration if Harris wins.
Why It Matters: Recently, Musk announced plans to campaign for Trump in Pennsylvania, emphasizing free speech and the right to bear arms. He invited attendees to join his talks without any attendance fee, provided they signed a petition supporting these rights and voted in Pennsylvania.
However, Mark Cuban has cautioned Musk about Trump’s loyalty, suggesting that it might not be as steadfast as Musk believes. Cuban’s comments reflect the broader skepticism surrounding Trump’s alliances, as Musk continues to navigate the complex political landscape.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
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