Elon Musk, the CEO of X, formerly Twitter, has pledged $45 million monthly to a new super political-action committee funding former President Donald Trump’s reelection bid, The Wall Street Journal reported.
America PAC will primarily focus on voter outreach and registration efforts, the WSJ reported.
The focus will be to fight Democrats’ traditionally strong campaigns.
Other donors include capital firm 8VC co-founder Joe Lonsdale, former U.S. ambassador to Canada Kelly Craft as well as investor twins Cameron and Tyler Winklesvoss, the Journal reported citing a person familiar with the matter.
Musk is the only Fortune 100 CEO to fully endorse a candidate in the 2024 presidential race, per USA Today.
Musk’s fortune is worth about $252 billion, according to Forbes. In addition to X, he is the CEO of Tesla and leads space firm SpaceX, per The Hill.
Musk is set to start his donations this month, the WSJ wrote.
There appeared to be a growing alliance between Musk and Trump recently. The WSJ reported in late May that there was a possible advisory role for Musk in Trump’s second administration if elected.
Musk posted his endorsement for Trump on X Saturday after the assassination attempt on Trump at a rally in Butler, Pennsylvania.
“I fully endorse President Trump and hope for his rapid recovery,” Musk wrote on X Saturday.
In the past, Musk has voted for Democratic candidates, including President Joe Biden.
But Musk has become disillusioned with Democrat policies. This includes Biden’s support for labor unions and his policies regarding immigration and the border.
Earlier this year, Musk said he would not contribute to either campaign.
“Just to be super clear, I am not donating money to either candidate for US President,” he wrote on X in March.
