- Tech billionaire Elon Musk plans to contribute $45 million monthly to a new fund supporting Donald Trump's US presidential candidacy.
- The fund, America PAC, will focus on voter registration, early voting, and mail-in ballots in swing states.
- Musk endorsed Trump's candidacy after his survival from a shooting at a rally.
According to sources familiar with the matter, Elon Musk's donations will support a political group named America PAC. The group will concentrate on encouraging voter registration, early voting, and mail-in ballots among residents in swing states ahead of the November general election, as reported by the Journal.
Others reportedly backing the new fund alongside Musk include Palantir co-founder Joe Lonsdale, former US ambassador to Canada Kelly Craft, and cryptocurrency investors Tyler and Cameron Winklevoss.
The Tesla founder formally endorsed Trump's candidacy for US president on Saturday following the former president's survival of a shooting at a political rally in Butler, Pennsylvania.
“I fully endorse President Trump and hope for his rapid recovery,” Musk wrote on the social media platform X, which he acquired in 2022.
Musk, the world's wealthiest man with an estimated net worth of $250 billion, has developed a closer relationship with Trump during the 2024 US election campaign. In March, the two met in person during a donor breakfast held at billionaire Nelson Peltz's Florida residence.
Loopholes in the campaign finance system allow political mega-donors to contribute to funds known as political action committees or "PACs," which support candidates, despite the individual campaign donation cap in the United States being $3,300 per person.
Trump previously criticized mail and absentee voting but has reversed his stance on these criticisms after it became evident that Democrats had an advantage among mail voters.
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