Elon Musk pledges $45 million monthly to support Donald Trump
What's the story
Elon Musk, the world's wealthiest individual with a net worth exceeding $250 billion, has pledged to donate $45 million monthly to America PAC, a pro-Donald Trump political group. This significant financial commitment is expected to substantially bolster the Republican nominee's reelection campaign finances through November. The pledge comes amidst a donor revolt against President Joe Biden and calls for a new nominee.
Additional backers
Other high-profile donors support America PAC
Musk's endorsement of Trump followed an incident where the former president was injured during an assassination attempt at a rally in Butler, Pennsylvania. Other notable contributors to America PAC include Palantir's Joe Lonsdale, cryptocurrency billionaires Cameron and Tyler Winklevoss, Alliance Resource Partners CEO Joe Craft and his wife Kelly Craft, former US ambassador to the United Nations under Trump. Douglas Leone of Sequoia Capital and Florida restaurateur James Liautaud have each donated $1 million.
Funding details
America PAC's financial status and Musk's contribution
According to the Federal Election Commission (FEC), America PAC raised $8.8 million in the second quarter, spent $7.8 million, and began July with just under $1 million in cash. Musk's substantial contribution was not included in this report as his donations did not commence until July. This influx of funds from Musk and other donors signifies a growing momentum for Trump among influential figures in technology and finance sectors.
Campaign strategy
America PAC's role in Trump's campaign
America PAC is primarily working behind the scenes to bolster the Trump campaign's ground game. While FEC disclosures do not detail where these efforts are taking place, canvassing and get-out-the-vote initiatives are typically focused in key battleground states that will determine the election outcome. Among outside organizations supporting Trump, America PAC is the largest spender on direct voter contacts, having spent $15.8 million so far.
Voter engagement
America PAC's expenditure on voter outreach
America PAC has allocated $13.1 million of its total expenditure for field operations. The group also funds digital media, texting, and phone calls to reach voters. A recent FEC ruling allows super-PACs (political action committees) like America PAC to coordinate with campaigns on voter outreach. This financial backing from a super-PAC gives Republicans a significant cash advantage, allowing them to allocate official campaign funds elsewhere in what is projected to be the most expensive presidential election in US history.