Skip to content
Options Trading Report

Options Trading Report

Primary Menu
  • Home
  • Business
  • Domestic
  • Economy
  • Money
  • Top News
  • Newsletters
  • Home
  • 2024
  • October
  • Musk gave $75 million to pro-Trump group, becoming a Republican mega donor

Musk gave $75 million to pro-Trump group, becoming a Republican mega donor

Editor October 16, 2024

By Alexandra Ulmer and Rachael Levy

(Reuters) -Elon Musk gave around $75 million to his pro-Donald Trump spending group in the span of three months, federal disclosures showed on Tuesday, underscoring how the billionaire has become crucial to the Republican candidate’s efforts to win the Nov. 5 presidential election.

America PAC, which is focused on turning out voters in closely contested states that could decide the election, spent around $72 million of that in the July-September period, according to disclosures filed to the Federal Election Commission.

That is more than any other pro-Trump super PAC focused on turning out voters. The Trump campaign is broadly reliant on outside groups for canvassing voters, meaning the super PAC founded by Musk – the world’s richest man – plays an outsized role in the razor-thin election between Trump and Democrat Kamala Harris.

Musk, the CEO of electric car manufacturer Tesla, was the sole donor to the group in that period.

Musk, who has said he has voted for Democratic presidential candidates in the past, has taken a sharp turn to the right this election. He endorsed Trump in July and appeared with him at a rally in Pennsylvania earlier this month.

Musk’s donations to America PAC propel him into the exclusive club of Republican mega donors, a list that also includes banking heir Timothy Mellon and casino billionaire Miriam Adelson.

However, Reuters reported earlier this month that Musk has secretly funded a conservative political group for years, well before his public embrace of Trump.

America PAC declined to comment on the Musk donations. Musk did not immediately respond to a request for comment.

America PAC is focused on encouraging Americans who like Trump but don’t always vote to cast ballots this cycle, a high-risk, labor-intensive strategy by the Trump campaign.

The group, which started its work later in the election than other PACs, has encountered some problems with hiring and its contractors. Since July, it has fired two major contractors it has hired to knock on doors.

It has also struggled to hire door knockers in several battleground states in part because by the time the PAC became operational many other canvassing groups had already staffed up, a half-dozen sources briefed on the issues told Reuters.

The group had around $4 million left on hand by the end of September, the filings show.

Separate filings earlier on Tuesday showed that Miriam Adelson, the casino magnate, donated $95 million to another pro-Trump super PAC, Preserve America PAC, in the same period.

(Reporting by Alexandra Ulmer and Rachael Levy; Editing by Ross Colvin and Deepa Babington)

About the Author

Editor

Administrator

Visit Website View All Posts

Post navigation

Previous: Boeing closes in on $15 billion financing via stock, hybrid bonds
Next: EV maker Lucid expects to raise $1.67 billion from stock sale

Live Market Pulse

The charting technology is provided by TradingView. Learn how to use theTradingView Stock Screener.

Want More Market News?
Add your email address below to get up to date market news and more!
By submitting the form you agree to the Privacy Policy of Options Trading Report and agree to receive our email updates and special offers. As a bonus, you will also get a free subscription to MTA Trade of the Day, Privacy Policy. You will receive special offers and advertisements from Options Trading Report and MTA Trade of the Day and our affiliates. You may unsubscribe at any time.

Search

Recent Posts

  • Protesters set fire to Indonesian parliament buildings in several provinces
  • Over 600 UAW workers at two GE Aerospace facilities go on strike
  • China’s support for multilateralism is vital, says UN’s Guterres
  • Protesters set fire to Indonesian parliament buildings in several provinces
  • Over 600 UAW workers at two GE Aerospace facilities go on strike

Categories

  • Business
  • Market News
  • Newsletters
  • Options
  • Reflections
  • Top News

You may have missed

2025-08-30T060335Z_1_LYNXMPEL7T03N_RTROPTP_4_INDONESIA-POLITICS-PROTESTS.JPG
  • Newsletters

Protesters set fire to Indonesian parliament buildings in several provinces

Editor August 30, 2025
2025-08-28T090437Z_2_LYNXMPEL7R04E_RTROPTP_4_FRANCE-AIRSHOW.JPG
  • Newsletters

Over 600 UAW workers at two GE Aerospace facilities go on strike

Editor August 30, 2025
2025-08-30T115235Z_1_LYNXMPEL7T062_RTROPTP_4_CHINA-SCO.JPG
  • Newsletters

China’s support for multilateralism is vital, says UN’s Guterres

Editor August 30, 2025
2025-08-30T060335Z_1_LYNXMPEL7T03N_RTROPTP_4_INDONESIA-POLITICS-PROTESTS.JPG
  • Newsletters

Protesters set fire to Indonesian parliament buildings in several provinces

Editor August 30, 2025
  • Home
  • Terms of Service
  • Privacy Policy
  • Disclaimer
  • Contact Us
Copyright 2025 © All rights reserved | Options Trading Report | optionstradingreport.com