Elon Musk has categorically denied allegations that he is donating $45 million per month to a fund supporting former US president Donald Trump’s latest White House bid. Responding to the claims on X (formerly Twitter) on Tuesday, Musk described the report as “ridiculous.”
The controversy arose after The Wall Street Journal reported that Musk was planning to contribute to a political Super-PAC backing Trump. Super-PACs are organizations that can spend unlimited amounts on political candidates and causes, provided they do not coordinate directly with the candidates or their campaigns.
Musk clarified his position, stating, “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 & individual freedom.” He further commented, “Republicans are mostly, but not entirely, on the side of merit & freedom.”
This statement comes on the heels of a renewed push in the democratic campaign for the presidential election, highlighted by Vice President Kamala Harris stepping in for President Joe Biden. The timing of the allegations and Musk’s response has drawn significant attention. Earlier reports had suggested that Musk would not donate to either Trump or Biden, making his recent endorsement of Trump even more surprising. Musk formally backed Trump’s candidacy for US president earlier this month, immediately after the Republican survived a shooting at a political rally in Butler, Pennsylvania.
Musk is not alone in supporting the new fund. Other notable backers reportedly include Palantir co-founder Joe Lonsdale, former US ambassador to Canada Kelly Craft, and cryptocurrency investors Tyler and Cameron Winklevoss.
The denial by Musk highlights the complex and often contentious nature of political fundraising in the United States, especially with high-profile figures and substantial sums of money involved.
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