Billionaire Elon Musk has donated to a political motion committee that’s working to elect Donald Trump to the White House, marking a formidable attempt by the world’s richest person to place his stamp on the US political landscape.
Musk has donated to a lesser-known group called America PAC, say people aware of the matter who asked to not be identified to debate his plans. It is unclear how much Musk has donated, however the people described the quantity as substantial. The PAC is required to reveal its donor list on July 15.
The move underscores the growing influence of a technology mogul who tops the Bloomberg Billionaires Index with a net price of $263.6 billion, in addition to his transformation from a self-described political independent – who says he prefers to remain out of politics – to someone who commonly uses his social media platform “X” to espouse right-wing views and attack Democrats.
Musk’s money injection comes as Trump has overtaken his rival, President Joe Biden, in fundraising with the assistance of deep-pocketed Wall Street and company donors. Biden’s own fundraising has declined after a disastrous debate that prompted distinguished Democratic donors to place away their checkbooks.
Musk has not yet publicly endorsed a candidate within the 2024 presidential race and said earlier this yr that he had no intention of funding either Trump or Biden’s campaigns, but his decision to open his wallet offers him the chance to turn out to be a financial pillar for the Republicans.
The Trump team declined to comment.
Chris Gober, treasurer of America PAC, declined to comment.
Ground game boost
America PAC works largely behind the scenes to support the Trump campaign’s ground campaign.
Although Federal Election Commission publications don’t provide details about where the work is happening, door-to-door canvassing and voter mobilization are being most intense within the crucial swing states that may determine the consequence of the election.
Musk’s efforts threaten to deal a devastating blow to Biden and the Democrats, who’re already embroiled in an intra-party battle over the president’s political future.
The Democrats have invested heavily in field offices and personnel within the swing states, measures that Biden commonly touts throughout the election campaign.
A Super PAC supporting these efforts on Trump’s behalf gives Republicans a major money advantage that they’ll use to spend official campaign funds elsewhere in what’s shaping as much as be the costliest presidential campaign in U.S. history.
Among the skin organizations supporting Trump, America PAC is the one spending essentially the most money on direct voter outreach. So far, it has spent $15.8 million, including $13.1 million on field operations, federal records show. It has also paid for digital media, text messages and phone calls to succeed in voters.
The group focuses on door-to-door canvassing and voter mobilization. A recent FEC ruling allows Super PACs to coordinate their work with election campaigns.
America PAC has hired In Field Strategies, a national grassroots organization that has also worked for the Republican National Committee.
Representatives for In Field didn’t reply to a request for comment.
Impact on firms
The political money makes Musk a fair more significant player in Washington. His wealth comes primarily from his investments in electric automobile manufacturers Tesla Inc., SpaceX and X. His firms already boast significant government contracts and commonly clash with federal authorities over regulations.
Some of Trump’s proposed measures, akin to rolling back Biden’s efforts to shift the U.S. to electric vehicles and announcing tariffs on Chinese electric vehicle manufacturers, would have a direct impact on Tesla.
Musk and Trump have clashed up to now, however the two have grown closer because the tech entrepreneur advises the previous president on electromobility and crypto policy.
During Tesla’s annual meeting last month, Musk discussed his relationship with Trump.
“He calls me out of the blue and for no reason,” Musk said.
