According to the latest data from the Federal Election Commission, Elon Musk donated over $260 million to help Donald Trump win the 2024 election. As a result, Musk has been appointed as the Co-Chief of the U.S. “Department of Government Efficiency,” reports TechCrunch.
The New York Times reported that Musk and his affiliated companies donated a total of $277 million during this election cycle, making him the largest donor of the election.
Elon Musk, CEO of Tesla, SpaceX, and xAI, is also the owner of X, The Boring Company, and Neuralink. Under the Trump administration, deregulation policies are expected to benefit Musk’s businesses, particularly in AI and space exploration sectors.
A significant portion of Musk’s contributions, approximately $238.5 million, was given to a Super PAC he established called “America PAC.” This Super PAC primarily supported Trump’s campaign and spread cartoonish and misleading messages about Democrats on social media.
The Super PAC also announced a daily reward of $1 million, which was conditional upon voters signing specific pledges. Though this initiative was challenged as an “illegal lottery” by the Philadelphia District Attorney, no court injunction was issued.
Musk also donated $20.5 million to the “RBG PAC,” which claimed in its advertisements that the late Supreme Court Justice Ruth Bader Ginsburg’s position on abortion aligned with Trump’s. This claim contradicted Ginsburg’s pro-choice stance.
Additionally, Musk contributed $3 million to the “MAHA Alliance Super PAC.”
The exact total of Musk’s political donations remains unclear, but experts believe the figure could be even higher.
According to the Bloomberg Billionaires Index, Elon Musk’s current net worth stands at $361.7 billion. Following Trump’s victory, Musk’s wealth has significantly increased.
Musk’s financial support for the Trump administration and the potential personal gains he may reap have sparked widespread discussion in political circles.
