Tech mogul Elon Musk has pledged to contribute approximately $45 million each month to America PAC, a political group dedicated to bolstering Donald Trump's campaign for US president, according to sources familiar with the matter cited by the Wall Street Journal.
The donations are aimed at advancing voter registration, early voting, and mail-in ballots particularly in key swing states ahead of the upcoming November general election.
Musk's endorsement of Trump's candidacy came shortly after the former president survived an assassination attempt at a rally in Butler, Pennsylvania, as announced on Musk's social media platform X, which he acquired in 2022.
The Tesla CEO, whose net worth is estimated at $250 billion, has developed a closer relationship with Trump throughout the course of the 2024 US election season.
Other notable backers of America PAC include Palantir co-founder Joe Lonsdale, former US ambassador to Canada Kelly Craft, and cryptocurrency investors Tyler and Cameron Winklevoss.
According to Channels Television, these contributions come despite individual donation limits in US campaigns, circumvented through political action committees (PACs) that support candidates.
Trump, who initially criticized mail and absentee voting, has softened his stance amid data suggesting Democratic voters hold an advantage via mail-in ballots.
The alliance between Musk and Trump underscores significant financial support pivotal to shaping the upcoming presidential race dynamics.