Musk Kicked In More Than a Quarter-Billion Dollars To Trump and GOP

Billionaire Elon Musk reportedly donated a whopping $277 million to support President-elect Donald Trump and other Republican candidates in the 2024 elections.

What Happened: Documents filed recently reveal that Musk has become the biggest financial supporter in the 2024 elections.

Musk contributed nearly $239 million to his personal super PAC, America PAC, which spent $154.5 million on canvassing efforts and digital ads to back Trump and counter Vice President Kamala Harris.

As reported by Business Insider, Musk’s contributions also aided GOP House candidates in 18 key districts, with over half of them securing victories.

The filings also showed that $40.5 million of Musk’s donations were directed towards America PAC’s contentious voter giveaways.

Beyond America PAC, Musk solely financed a super PAC that ran ads juxtaposing Trump’s stance on abortion with that of the late liberal Supreme Court Justice Ruth Bader Ginsburg, through a $20.5 million donation.

Also Read: ‘Dr. Doom’ Roubini on Trump’s Second Term: ‘Inflation Will Be Higher, Growth Is Going To Be Lower’

While the bulk of Musk’s political spending was channeled through America PAC and RBG PAC, he also made significant contributions to other groups during this election cycle.

He donated $10 million to the Senate Leadership Fund, a super PAC associated with Senate Minority Leader Mitch McConnell, and over $2.3 million to Sentinel Action Fund.

Why It Matters: Musk’s substantial financial support for Trump and the GOP marks a significant shift in his political engagement. His contributions, the largest in the 2024 elections, have the potential to significantly influence the political landscape.

The impact of his donations on the election results, particularly in the battleground districts, underscores the power of financial contributions in shaping political outcomes.

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This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.