Elon Musk has refuted claims that he is donating $45 million a month to support former US President Donald Trump’s latest bid for the White House.
In a post on X (formerly known as Twitter), Musk labeled the report suggesting he was funding a political Super PAC as “ridiculous.” Super PACs are groups that can spend unlimited amounts on political candidates and causes.
“I am making some donations to America PAC, but at a much lower level and the key values of the PAC are supporting a meritocracy and individual freedom,” Musk explained. He added, “Republicans are mostly, but not entirely, on the side of merit and freedom.”
Musk’s comments follow the recent revitalization of the Democratic campaign with Vice President Kamala Harris stepping in for Joe Biden.
The Wall Street Journal reported that Musk plans to donate $45 million monthly to America PAC, despite Musk stating months ago that he would not support either Trump or President Joe Biden.
Earlier this month, the Tesla founder formally endorsed Trump’s candidacy for US president after the Republican survived a shooting at a political rally in Butler, Pennsylvania.
Musk is one of several major backers of the new fund, with other reported supporters including Palantir co-founder Joe Lonsdale, former US ambassador to Canada Kelly Craft, and cryptocurrency investors Tyler and Cameron Winklevoss.
