In a significant development in the 2024 U.S. presidential race, Elon Musk, the billionaire CEO of Tesla and SpaceX, has emerged as a major financial backer for Donald Trump. [1, 3] Musk has contributed $75 million to America PAC, a super political action committee he established to support Trump's campaign. [1, 3, 4] This substantial donation, made between July and September, positions Musk as one of the top donors for the Republican nominee. [1, 2, 3, 4] The PAC has already spent over $100 million, focusing on voter mobilization efforts in key battleground states rather than traditional television advertising. [3, 4] Musk's involvement underscores the growing influence of mega-donors in U.S. politics, facilitated by the Supreme Court's 2010 Citizens United ruling, which allows unlimited corporate spending on political activities. [3] This has led to a surge in election spending, with projections indicating a record $15.9 billion will be spent on federal elections in 2024. [3] Musk's support for Trump follows an assassination attempt on the former president at a rally in July, after which Musk publicly endorsed him. [3] He has since been active on the campaign trail, advocating for Trump and criticizing Democratic candidate Kamala Harris. [3, 4] Musk's America PAC, while facing initial operational challenges, has concentrated its resources on canvassing, digital ads, and direct mail to bolster Trump's campaign. [4] Meanwhile, Kamala Harris has been on a fundraising spree, raising $653 million in the third quarter through her committees, significantly outpacing Trump's fundraising efforts. [3, 4] The full scope of campaign finances will be clearer with upcoming filings. [1, 2, 3, 4] As the election approaches, the financial backing from influential figures like Musk highlights the pivotal role of money in shaping the political landscape and the strategies employed by candidates to secure victory. [1, 3, 4]
