Elon Musk has announced that he will be pledging $45 million a month to a newly formed super PAC backing former President Donald Trump’s White House bid.
To date, the super PAC has received contributions from other high-profile entrepreneurs such as crypto billionaire twins Cameron and Tyler Winklevoss and Joe Lonsdale.
Lonsdale donated one million to America PAC through the company Lonsdale Enterprises and the Winklevoss twins donated $250,000 so far.
Tesla and Space X CEO Elon Musk officially endorsed Trump on July 13, not long after his attempted assassination.
“I fully endorse President Trump and hope for his rapid recovery. Last time America had a candidate this tough was Theodore Roosevelt,” said Musk on X. Musk indicated that he intends to start the donation in July.
According to the Wall Street Journal, the America PAC has $8.75 million in contributions in the three-month period ending June 30.
To date, the largest amount ever donated in the 2024 election cycle to the pro Trump super PAC is $50 million which came from the great-grandson of banker Thomas Mellon.
In other news, Elon Musk is also pulling his companies out of Democrat-run California after Governor Gavin Newsom signed new laws.
He said he would move Space X out of the state as the new law attacks both families and companies. He plans to set up SpaceX’s new headquarters in Texas.
His act was in response to Newsom signing a law on July 15 that bars school districts in California from requiring parents to be notified of a child’s gender identification change.
“This is the final straw. Because of this law and the many others that preceded it, attacking both families and companies, SpaceX will now move its HQ from Hawthorne, California to Starbase, Texas. I did make it clear to Governor Newsom about a year ago that laws of this nature would force families and companies to leave California and protect their children,” said Musk on X.