Musk to donate $45 million monthly to Trump-supporting foundation – WSJ

Other America PAC donors include Palantir Technologies co-founder Joe Lonsdale and the Winklevoss twins.

Elon Musk has said he plans to give about $45 million a month to a new super political action committee supporting former President Donald Trump’s presidential bid , according to people familiar with the matter .

According to sources of The Wall Street Journal, the money will go to the America PAC committee, which supports Trump. The sources of the publication do not specify where and when Musk announced such plans.

The New York Times sources said that America PAC is likely to receive “significant support” from the billionaire. It is not yet known whether Musk has already made a donation. At the same time, Bloomberg wrote on July 13 that Musk had already donated a “significant” amount to America PAC. However, by the end of June, no donations from him had been recorded, The New York Times notes.

America PAC was created in May 2024 by people close to Musk. It is a group of tech entrepreneurs who often fund each other’s startups, The New York Times reports. According to The Wall Street Journal, the committee is supported by Palantir Technologies, as well as former U.S. Ambassador to Canada Kelly Craft and her husband Joe Craft, who heads Alliance Resource Partners.

According to The New York Times, one of the founders of America PAC told the newspaper’s source in the spring that he was counting on $160 million in donations from a major donor, who would transfer the money in four installments over the course of the election campaign.

US Elections: How Musk Supports Trump

Billionaire Elon Musk could become an adviser to Donald Trump if he wins the presidential election and returns to the White House again.

The Wall Street Journal reported, citing sources, that Trump and Musk have held talks about ways to give the billionaire official influence over policies related to border security and the economy. Musk has spoken out publicly on these issues of late.

The publication notes that Musk, together with billionaire investor Nelson Peltz, is conducting an influence campaign in elite circles, convincing them not to support the re-election of incumbent President Joe Biden.

(C)UNIAN 2024