Billionaire entrepreneur Elon Musk has reportedly been secretly funding a conservative political group, Building America’s Future, for years. This comes before his public endorsement of former President Donald Trump’s re-election bid.
What Happened: Musk’s contributions to the right-wing organization started as early as 2022. These donations, reportedly in millions, have significantly empowered the group known for its criticism of the Biden administration and progressive political platforms, reported Reuters.
Building America’s Future, a non-profit 501(c)(4) group, is not obligated by federal law to disclose its financial backers. These organizations, often referred to as “dark money” groups, can support political causes without revealing the source of their funding.
Despite Musk’s previous public stance of not favoring either major U.S. political party, his donations to Building America’s Future indicate his financial support for right-wing causes. This revelation comes after Musk’s recent public endorsement of Trump and his announcement to finance a political action committee to work against Democrats.
Building America’s Future has been critical of the Biden administration on various issues, including illegal immigration, a topic frequently commented on by Musk. The organization also recently initiated a $10 million advertising campaign aimed at undermining Black support for Vice President Kamala Harris.
Musk, the founder of Tesla Inc. TSLA, SpaceX, and the social media platform X, has seen his political leanings shift rightward in recent years. He has become an outspoken critic of the current administration and a strong opponent of identity politics.
Why It Matters: Musk's financial support for Republican causes began earlier and was more extensive than previously known, reported The Wall Street Journal.
He quietly contributed tens of millions to groups linked to Trump aide Stephen Miller and Florida Governor Ron DeSantis's presidential campaign. Musk’s contributions, largely through anonymous channels, positioned him as a major donor to conservative causes, influencing U.S. politics despite a mixed track record in backing winning candidates.
Transgender issues hold personal significance for Musk, as his transgender daughter publicly severed ties with him in April 2022, just months before he financially supported Miller's group, noted the Journal.
Musk emphasized his independent political stance in November 2022, stating that while his historical party affiliation was independent, his voting record had been entirely Democrat until that year.
Musk’s political affiliations have been under scrutiny in recent years. In August, it was reported that a PAC established by Musk was using voter data to favor Trump over Kamala Harris. Later that month, it was revealed that the PAC was under investigation for its voter data collection activities.
In September, Musk’s support for Trump was further highlighted when he was labeled an ‘outspoken’ Trump supporter after a journalist was banned on X for publishing leaked documents related to Trump’s running mate.
This was followed by a warning from billionaire Mark Cuban to Musk about Trump’s loyalty, as reported by Benzinga.
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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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