Musk Endorses Trump, Pledges $45 Million Monthly To Back Presidential Campaign

Tech mogul, Elon Musk, has announced plans to allocate approximately $45 million each month to a new fund aimed at supporting Donald Trump’s presidential campaign, as reported by the Wall Street Journal on Monday.

Naija News learnt that the donations will be directed to a political organization known as America PAC.

This group will concentrate on encouraging voter registration, promoting early voting, and supporting mail-in ballots in key swing states leading up to the November general election, according to sources familiar with the initiative.

Despite the individual campaign donation limit of $3,300 per person in the United States, political mega donors can still contribute to political action committees (PACs), which can support candidates without the same financial restrictions.

Joining Musk in backing the fund are other significant contributors, including Palantir co-founder, Joe Lonsdale, former US ambassador to Canada Kelly Craft, and cryptocurrency entrepreneurs Tyler and Cameron Winklevoss.

Musk officially endorsed Trump’s presidential bid on Saturday after Trump survived a shooting at a political rally in Butler, Pennsylvania.

“I fully endorse President Trump and hope for his rapid recovery,” Musk stated on X, the social media platform he purchased in 2022.

Musk, who is one of the wealthiest persons globally with a net worth of approximately $250 billion, has shown increasing support for Trump throughout the 2024 election cycle.

In March, Musk and Trump met in person during a donor breakfast at billionaire Nelson Peltz’s Florida residence.