Elon Musk denies donating $45 million a month to the Trump campaign

Elon Musk has refuted rumors that he was contributing $45 million a month to a fund that supported Donald Trump’s most recent attempt to win the presidency.

Musk referred to the claim that he was contributing to a purported political Super-PAC as “ridiculous” in a post on X on Tuesday.

Super PACs are organizations created specifically with unrestricted funding for political candidates and issues.

“I am giving to America PAC, but at a considerably smaller amount. The PAC’s main principles are individual freedom and meritocracy.

“Republicans are mostly, but not entirely, on the side of merit & freedom,” he added.

Musk’s comments came days after the democratic campaign for the presidential election was re-invigorated with Vice President Kamala Harris stepping in for Joe Biden.

The Wall Street Journal had reported that Musk plans to donate $45 million monthly to America PAC, even though Musk stated just months ago that he would not donate to either Trump or President Joe Biden.

The Tesla founder formally endorsed 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 one of several major backers of the new fund, with others reportedly including Palantir co-founder Joe Lonsdale, former US ambassador to Canada Kelly Craft and cryptocurrency investors Tyler and Cameron Winklevoss.

AFP