Musk Allocates $45 Million Monthly to Trump Support Committee

The Wall Street Journal reported that billionaire Elon Musk stated he plans to allocate approximately $45 million per month to a new political action committee supporting Republican candidate Donald Trump. The newspaper, citing informed sources, noted that Musk indicated he intends to begin his donations in July to the American political action committee to support Trump's presidential candidacy. However, the South African-born entrepreneur was not listed in the filing submitted by the group on Monday, which showed they had raised over $8 million. Musk publicly endorsed Trump for the first time in the U.S. presidential race just hours after Trump was shot in the ear during a campaign rally on Saturday. This move signifies Musk's shift towards right-leaning politics and provides Trump with a high-profile supporter in his attempt to return to the White House. On Monday, Trump selected Ohio Senator J.D. Vance as his vice-presidential nominee as the Republican Party officially nominated the former president again for the White House. A few days prior, just before the former president's assassination attempt, Bloomberg reported, citing sources, that billionaire Elon Musk donated to a political group focused on electing Donald Trump. The report did not specify the amount Musk donated but added that it was a "large sum" given to a group called "America PAC." Bloomberg mentioned that "America PAC"—a group capable of receiving unlimited contributions for political activity—is required to disclose its donor list by July 15. In March, Trump met with Musk and other wealthy donors.