Musk donates USD288mn to Trump campaign

(MENAFN) Elon Musk has become the largest political donor of the 2024 election cycle, contributing at least $288 million to Donald Trump’s presidential campaign, according to the Washington Post. Musk’s financial support has solidified his influence within Trump’s political network, with critics referring to him as a "de facto, unelected co-president."

Musk’s donations largely went through America PAC, a super PAC he co-founded to rally low-turnout voters in key battleground states. The PAC raised $263 million, supported by Musk and his close associates, including Tesla board member Antonio Gracias, Palantir co-founder Joe Lonsdale, and Sequoia Capital’s Shaun Maguire.

In addition, Musk contributed $11.2 million in late December for “petition incentives” aimed at encouraging voter participation in swing states like Pennsylvania, Georgia, and Arizona. Musk also pledged $1 million to individuals in these states who signed a petition supporting free speech and the right to bear arms.

Musk's investment in the election has already yielded substantial returns, with his net worth increasing by more than $200 billion, largely due to the rise in Tesla's stock price. Despite previously presenting himself as politically neutral, Musk publicly endorsed Trump after the failed assassination attempt on the Republican nominee in July.

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