Musk's donations can be seen as an investment in his own companies, as Trump's deregulation policies could benefit industries Musk is involved in, such as AI and space exploration. Musk also donated to other super PACs, including $20.5 million to RBG PAC and $3 million to the MAHA Alliance super PAC. The total extent of Musk's political donations is not yet known, but the number is expected to continue growing.
Key takeaways:
- Elon Musk, CEO of Tesla, SpaceX, and xAI, donated over $260 million to political groups in 2024, making him the largest donor of the election cycle. These donations helped Donald Trump win the presidential election and secured Musk a position as the co-head of government efficiency.
- The majority of Musk's donations, approximately $238.5 million, went to the America PAC, a super political action committee he founded that focused on the presidential race. This PAC funded ads across social media that impersonated Democrats and their stances.
- Musk also donated $20.5 million to RBG PAC, a super PAC that ran ads claiming the late Supreme Court Justice Ruth Bader Ginsberg's abortion positions aligned with Trump's, and $3 million to the MAHA Alliance super PAC.
- Musk's donations can be seen as an investment in the future of his own companies, as Trump's favor of deregulation could benefit industries Musk is involved in, including AI and space exploration.