In March, Trump met with Musk and other wealthy donors. He is expected to be formally nominated next week as the Republican Party's candidate for the November 5 US Presidential election. (Photo: Reuters) 
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In March, Trump met with Musk and other wealthy donors. He is expected to be formally nominated next week as the Republican Party's candidate for the November 5 US Presidential election. (Photo: Reuters) Elon Musk has donated to a political group working to elect US presidential candidate Donald Trump, as per a Bloomberg report. The report did not indicate how much Musk donated but added it was “a sizable amount” given to a group called America PAC.
The PAC is next required to disclose its list of donors on July 15.
The move highlights the growing influence of a technology mogul who tops the Bloomberg Billionaires Index with a net worth of $263.6 billion and his shift from a self-described political independent - who said he preferred to stay out of politics - into a figure who regularly uses his X social-media platform to espouse right-leaning views and assail Democrats.
Business Today couldn’t independently verify the report.
In March, Trump, a former US President met with Musk and other wealthy donors. He is expected to be formally nominated next week as the Republican Party's candidate for the November 5 US Presidential election.
The money injection report from Musk comes at a time when Trump has overtaken his rival, President Joe Biden, in fundraising with the help of Wall Street and corporate donors. Biden’s own money raising has dropped off following the debate debacle that led prominent Democratic donors to put away their checkbooks.
Musk is yet to publicly endorse a candidate in the 2024 race. Earlier this year he mentioned that he does not anticipate financing either Trump or Biden’s election efforts.
America PAC is working mostly behind the scenes to bolster the Trump campaign's ground game.
Though Federal Election Commission disclosures don’t detail where work is occurring, canvassing and get-out-the-vote efforts are conducted most intensively in key battleground states that will determine the outcome of the election.
Among outside organisations backing Trump, America PAC is the biggest spender on direct voter contacts. It has spent $15.8 million so far, with $13.1 million of that going for field operations, federal records show. It has also paid for digital media, texting and phone calls to reach voters.
The group focuses on door-to-door persuasion and get-out-the-vote efforts. A recent ruling by the FEC allows super PACs to coordinate with campaigns on voter outreach.
Some of Trump’s proposed policies, such as dismantling Biden’s measures to transition the US to electric vehicles and vows to impose tariffs on Chinese EV makers, would have a direct impact on Tesla, according to the Bloomberg report.
Musk and Trump have clashed in the past but the two have grown closer with the tech entrepreneur advising the former president on electric vehicles and crypto policy.
The US election will be held on November 5, 2024. The winner will serve four years in the White House starting from their inauguration on January 20, 2025.
Voters will be electing not just a president, but Congressional candidates for seats in the House of Representatives and the US Senate.
Recent polls suggest Trump is leading Biden in a number of critical states, causing alarm among Democrats.
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