Prominent members of the billionaire class in the United States have contributed significant amounts of money during the last leg of the 2024 campaign to support the election of their preferred candidate,
Republican nominee Donald Trump, for the presidency. Over the past few months, Tesla CEO Elon Musk has donated almost $75 million to a super PAC that backs the former president’s quest for a second term.
Elon Musk, Sheldon Adelson, and Richard Uihlein have collectively contributed approximately $220 million to super PACs that back President Trump in the last quarter.
Among these notable donors, Timothy Mellon, another influential Republican megadonor, has also provided substantial financial support to Trump’s campaign.
According to The Guardian’s Hugo Lowell, Elon Musk, the wealthiest individual on the planet and the owner of the influential social media platform X, has made donations totaling around $75 million to his pro-Trump America PAC.
This political action committee has faced allegations of engaging in voter deception. Lowell also highlighted that Musk’s PAC is responsible for a significant portion of the Trump campaign’s ground game efforts in various battleground states.
Furthermore, the billionaire has been actively utilizing his social media platform to consistently endorse the former president.
According to a recent report by The New York Times, America PAC is offering a payment of $47 to individuals who assist the organization in locating Trump voters.
In the upcoming election, Trump has expressed his intention to appoint Musk as the person responsible for cost-cutting. Trump, whose campaign has prioritized implementing tax cuts that benefit billionaires, has recognized Musk’s expertise in this area.
Elon Musk took to Twitter on Wednesday to announce his plans of giving a series of talks in Pennsylvania, a crucial battleground state. His objective is to support the Trump campaign, which has faced challenges in fundraising compared to the Democratic nominee, Kamala Harris.
According to CNN, Kamala Harris, who has garnered support from influential billionaires, has been able to raise an impressive $1 billion since becoming the Democratic standard-bearer in late July. This remarkable achievement sets a new record, as no other presidential contender has reached this milestone as quickly as she has.
According to The Washington Post, we will have to wait until Sunday to get a complete understanding of the financial status of the Trump and Harris campaigns. This is because detailed reports will be filed with the Federal Election Commission by the campaigns and parties.
According to OpenSecrets, this year’s election is set to become the most costly in U.S. history. Candidates for federal office and super PACs are expected to receive a staggering $15.9 billion in funding. This surge in campaign finance can be attributed to the Supreme Court’s landmark decision in 2010, known as Citizens United.
ATF encouraged individuals to exercise their right to vote next month, emphasizing the importance of ensuring that the voices of billionaires do not overshadow their own.