Topline
Billionaire Elon Musk gave another $43.6 million through Oct. 16 to his America PAC that’s helping to elect former President Donald Trump, federal filings show, as the Tesla CEO has now spent more than $118 million bankrolling the super PAC while becoming one of Trump’s most prominent supporters—and as his $1 million offers to voters draw legal scrutiny.
Key Facts
Musk has now surpassed Miriam Adelson to become the second-largest individual pro-Trump donor this election cycle, The New York Times notes, after billionaire Timothy Mellon, who has given $150 million so far to aid the ex-president (the donations are to independent super PACs, not the Trump campaign itself).
Musk gave $43.6 million to America PAC between Oct. 1-16, according to filings with the Federal Election Commission, which will be the last time the super PAC’s donations are publicly reported before Election Day.
That comes on top of $75 million Musk already gave America PAC through Sept. 30, and his money makes up nearly all of the $130.3 million the super PAC has raised overall.
America PAC has generated controversy in recent weeks for giving away $1 million each day to a randomly selected swing state voter who’s signed a petition on the group’s website—a plan that was announced Saturday after the deadline for this FEC filing, so it’s possible Musk could have given more cash after Oct. 16 to help fund the gambit.
The super PAC is reportedly largely responsible for the Trump campaign’s ground game knocking on voters’ doors, though reports suggest it’s faced issues with its tech infrastructure that have allowed workers to claim they’ve knocked on voters doors when they actually haven’t.
Musk has also personally supported Trump on the campaign trail, appearing with the ex-president at a campaign rally and headlining his own events in Pennsylvania in recent days.
What To Watch For
The New York Times reported Thursday that Musk is becoming “more frenzied” about his efforts to elect Trump and will continue campaigning for him through Election Day, including appearing alongside the ex-president at his campaign rally at Madison Square Garden this weekend. Musk has also incorporated two companies—Group America LLC and United States of America Inc.—that suggest he could be trying to establish a foothold in the political world more long-term, Forbes first reported.
What We Don’t Know
If Musk will face any legal consequences for his work with America PAC. Legal experts have broadly warned the group’s plan paying $1 million to voters likely runs afoul of federal law, which prohibits anyone from offering money or other rewards to entice Americans to vote or register to vote. That could apply to America PAC’s giveaways, experts suggest, because people are only eligible for the $1 million if they’re registered voters in a swing state. The Justice Department reportedly sent a letter to America PAC warning its sweepstakes may violate federal law, which is punishable by a fine of up to $10,000 and/or up to five years in prison. America PAC has not commented on the letter, but CNN notes the PAC did not name a winner of its daily $1 million giveaway on Wednesday after the DOJ’s warning was first reported.
Forbes Valuation
Forbes estimates Musk’s net worth at $269.8 billion as of Thursday evening, making him the richest person in the world.
Who Else Is Elon Musk Donating To?
FEC filings released Thursday show Musk has also given $10 million to the Senate Leadership Fund, a super PAC for electing GOP senators, as well as donating $2.3 million to the super PAC Sentinel Action Fund. Prior to October, he gave nearly $300,000 to the National Republican Congressional Committee that helps elect GOP lawmakers to the House, along with smaller contributions to Republican parties in Utah and California, failed Utah GOP House candidate Colby Jenkins and a PAC sponsored by Rep. Ken Calvert, R-Calif. He also gave $1 million last quarter to Early Action PAC, a super PAC dedicated to registering Republicans to vote and persuading them to vote early. The billionaire has reportedly given much more money without it being publicly reported, however. The Wall Street Journal reports Musk gave more than $50 million before the 2022 midterms to a group called “Citizens for Sanity” that ran attack ads against Democrats and spent $10 million helping Florida Gov. Ron DeSantis’ presidential campaign in the GOP primaries. Musk’s donation to Citizens for Sanity was made through a group called Building America’s Future, the Journal reports, which funded a pro-Trump PAC this election cycle that has been criticized for its ads targeting Muslim voters.
Key Background
Musk has become one of Trump’s biggest champions in the presidential election, marking an about-face for the billionaire as he previously donated to Democrats and criticized the ex-president. Trump has floated making Musk part of his administration if he wins, suggesting he could be the “secretary of cost-cutting,” and the Tesla CEO—whose companies stand to benefit from a Trump presidency—has urged Trump to create an “Office of Government Efficiency.” News of America PAC and Musk’s involvement with it was first reported over the summer, after Musk publicly endorsed Trump in the wake of the July assassination attempt against the ex-president. FEC filings on Sunday and Thursday have marked the first concrete report of Musk’s full involvement with the PAC, after the billionaire shot down early rumors he was giving as much as $45 million per month.
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