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Billionaire Elon Musk opens his wallet for Donald Trump's campaign in US prez race
Tesla and X-owner Elon Musk donates to political group working to elect Donald Trump in the US, according to reports.
He also referred to acts of “violence committed against my companies” and personal threats, which he framed as being “on the wrong side of history.”
Billionaire Elon Musk has donated to a super political action committee working to elect Donald Trump to the White House, a Bloomberg report stated, claiming that the move is "a major gambit by the world’s richest person to make his imprint on the US political landscape."
The report doesn't state the exact size of the contribution to the low-profile Super PAC called America PAC, except to say that it is sizeable.
The Tesla boss and owner of X (formerly known as Twitter) has yet to publicly endorse a candidate in the 2024 US Presidential race. "...but his decision to open his pocketbook presents an opportunity for him to become a financial juggernaut for Republicans," the Bloomberg report stated.
A political action committee (PAC) in the US is a tax-exempt 527 organization that pools campaign contributions from members and donates those funds to campaigns for or against candidates, ballot initiatives, or legislation.
Super PACs (independent expenditure only political committees) are committees that may receive unlimited contributions from individuals, corporations, labor unions and other PACs for the purpose of financing independent expenditures and other independent political activity.
In May this year, Musk tweeted in support of Trump hours after he became the first US president to be convicted of a crime when a New York jury found him guilty of falsifying documents to cover up a payment to silence a porn star ahead of the 2016 election.
“Indeed, great damage was done today to the public’s faith in the American legal system. If a former President can be criminally convicted over such a trivial matter – motivated by politics, rather than justice – then anyone is at risk of a similar fate,” Musk posted on X.
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