As polls begin to close for the high-voltage 2024 presidential race, Tesla and SpaceX CEO Elon Musk has revealed his intentions to extend his pro-Trump super PAC beyond the 2024 election.
What Happened: On Tuesday night, during a live session on his social media platform, X, formerly Twitter, Musk announced his plans to now focus on the 2026 midterms and local races.
He suggested that a Trump victory would indicate a public desire for change. “I think there's a sea change in the country,” Musk said. “I hope I'm not wrong about that.”
This information was first reported by the Associated Press.
Why It Matters: Last month, it was reported that Musk's publicly disclosed political contributions have surpassed $130 million, though the real amount may be greater.
Allegations also surfaced that the tech mogul was financially backing a "dark money" nonprofit, which contributed $3 million to a super PAC airing ads that depict Vice President Kamala Harris in a conflicting light on her stance toward Israel.
However, his political activities have not been without controversy. Musk was summoned to court over a $1 million lottery organized by his political action committee.
The lawsuit questioned the legality of the lottery, which targeted registered voters in pivotal states.
Meanwhile, Musk has been vocal about his vision for government efficiency, warning of potential hardship for Americans if Republican candidate Donald Trump appoints him to lead efforts to cut the $33 trillion debt.
Analysts believe a Trump victory could be a potential positive for Musk’s company Tesla, despite the overall impact on the electric vehicle industry.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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