Billionaire Elon Musk has donated to a giant political action committee working to elect Donald Trump to the White House, a major move by the world’s richest person to make his mark on the American political landscape.
Musk has contributed to a low-profile group called America PAC, according to people familiar with the matter who asked not to be identified discussing his plans. It’s unclear how much Musk has donated, but the people described the figure as a significant amount. The PAC is next due to release its donor list on July 15.
The move highlights the growing influence of the tech mogul, who tops the Bloomberg Billionaires Index with a net worth of $263.6 billion, and his transformation from a self-described political independent — who has said he prefers to stay out of politics — to a figure who regularly uses his social media platform X to espouse right-wing views and attack Democrats.
Musk’s cash injection comes as Trump has outraised his presidential rival Joe Biden with the help of Wall Street and corporate donors. Biden’s fundraising has slumped after a disastrous debate that prompted prominent Democratic donors to put down their checkbooks.
Musk has yet to publicly endorse any candidate in the 2024 race and said earlier this year that he did not expect to fund Trump or Biden’s election efforts, but his decision to open his wallet represents an opportunity for him to become a financial giant for Republicans.
The Trump campaign declined to comment.
Chris Gober, treasurer of the PAC, declined to comment.
enhance ground game
America PAC works mostly behind the scenes to support Trump’s campaign on the ground.
Although FEC disclosures do not detail where the work is happening, canvassing and voter promotion efforts are taking place intensively in key swing states that will determine the outcome of the election.
Musk’s efforts threaten to deal a devastating blow to Biden and Democrats, who are already mired in an intraparty battle over the president’s political future.
Democrats have invested heavily in field offices and staff in swing states, moves Biden regularly touts during his campaign.
Having a political action committee that parallels those efforts on Trump’s behalf gives Republicans a huge cash advantage to spend official campaign money elsewhere, in what is shaping up to be the most expensive presidential election in U.S. history.
Among outside organizations that support Trump, the America Political Action Committee is the biggest spender on direct voter contact. It has spent $15.8 million so far, including $13.1 million for field operations, according to federal records. The committee has also paid for digital media, text messages and phone calls to reach voters.
The group focuses on door-to-door persuasion and get-out-the-vote efforts. A recent Federal Election Commission ruling allows independent political action committees to coordinate with campaigns on voter outreach.
The PAC hired In Field Strategies, a national grassroots firm that has also done work for the Republican National Committee.
Representatives for Enfield did not respond to a request for comment.
Impact on companies
Political money makes Musk an even more powerful player in Washington. His wealth comes primarily from his holdings in electric carmakers Tesla, SpaceX and X. His companies already have massive government contracts and regularly clash with federal agencies over regulations.
Some of Trump’s proposed policies, such as dismantling Biden’s push to shift the U.S. to electric vehicles and pledges to impose tariffs on Chinese electric vehicle makers, are expected to have a direct impact on Tesla.
Musk and Trump have clashed in the past, but the two men are closer now, with the tech entrepreneur advising the former president on electric cars and encryption policy.
During Tesla’s annual meeting last month, Musk discussed his relationship with Trump.
“He called me out of the blue for no reason,” Musk said.
