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Musk, who is worth $241 billion, has only made modest donations to federal candidates until this election season | (Photo: Reuters)
By Bill Allison and Dana Hull
Elon Musk poured $75 million into the super political action committee he created earlier this year, launching the Tesla Inc. and SpaceX chief executive officer into the top tier of political donors as he pays for much of the ground game for Donald Trump’s campaign.
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Musk’s super PAC is paying for Trump’s get-out-the-vote operations in battleground states in an effort to bolster turnout for the former president and Republicans in swing districts that could help the GOP win a House majority. The group, America PAC, is also spending on digital ad campaigns, some of which target young men, trying to get them to the polls to offset Harris’ advantage among women voters.
Musk was America PAC’s only donor, making seven separate contributions between July 3 and Sept. 5, according to its latest filing with the Federal Election Commission. The group spent $72 million and started October with $4 million cash on hand. The bulk of its spending, $68.5 million, supported Trump.
The PAC, which advertises on X — the social media platform that Musk owns — for canvassers offering to pay up to $30 an hour, says it was created to support candidates who favor a range of issues including securing borders, public safety and free speech.
The moves are the latest demonstration of how Musk, whose companies boast billions of dollars worth of federal contracts and who has personally bristled at government regulations, is expanding his political influence network to include a potential future president and members of Congress.
Musk, who is worth $241 billion, has only made modest donations to federal candidates until this election season.
Musk has become an increasingly vocal backer of Trump, using his social media platform X, formerly known as Twitter, to promote the former president as well as amplify claims he’s made blaming immigrants for increased violence. Musk’s account on X includes a link to America PAC while his X profile says platform users should read his posts “to understand by I’m supporting Trump for President.”
Trump invited Musk to share the stage with him at a rally on Oct. 5, calling him “a truly incredible guy.” The event was held at the same venue in Butler, Pennsylvania, where Trump was wounded in a failed assassination attempt in July. Musk publicly endorsed Trump on X that evening.
The former president has said he would ask Musk to join his administration should he win a second term, heading up an effort to cut government waste nicknamed the Department of Government Efficiency, or DOGE, a reference to a cryptocurrency Musk has embraced.
Deep-pocketed donors are playing a critical role in supporting Trump, who lags far behind Vice President Kamala Harris in fundraising. She’s been outspending his campaign in all seven of the battleground states that will decide the election in the final stretch since Labour Day according to data from AdImpact. Her media buys total $314 million compared to $173 million for Trump.
Harris’ financial advantage has also allowed her to open more then 330 field offices staffed with more than 2,000 paid employees to help conduct its voter mobilisation operations. With polling margins razor thin — Trump’s lead in the Real Clear Politics average of battleground state polls is 0.7 per cent — how much campaigns have to spend can be decisive.
First Published: Oct 16 2024 | 9:10 AM IST
