Tesla CEO and X owner Elon Musk has made multi-million dollar donations to support Republicans in their bid to regain the Senate in November, according to a report submitted to the Federal Election Commission on Thursday. If he’s successful and former President Donald Trump wins his race against Vice President Kamala Harris, that will be a tremendous help for the 47th commander-in-chief, especially when it comes to appointing federal judges and Supreme Court justices.
Musk has become a prominent voice for conservatives during this election cycle, aligning himself closely with former President Donald Trump. After purchasing X (formerly Twitter) in 2022, Musk reinstated Trump’s social media account shortly thereafter and endorsed the former president in August. The multi-billionaire contributed $10 million to the Senate Leadership Fund on October 1, according to Politico, along with $2.4 million to The Sentinel Action Fund, a super PAC that supports various GOP Senate candidates. The Senate Leadership Fund is associated with Senate Minority Leader Mitch McConnell.
Republicans are aiming to maintain control of the House and reclaim the Senate next month, needing to flip just two Senate seats to take the upper chamber. In addition, Musk contributed $300,000 to a group linked to the National Republican Congressional Committee in August. This funding comes as the tech CEO establishes his own super PAC called “America PAC,” which has focused its resources on canvassing efforts for Trump. Musk has invested $75 million into the PAC.
As of Thursday, Musk’s net worth is estimated at $269 billion, according to Forbes. The majority of his wealth is derived from Tesla, where he owns 13% of the shares. Additionally, he holds a significant stake in SpaceX, which is valued at over $200 billion, Just the News reported.
A Super PAC co-founded by Musk has allocated tens of millions for data collection and canvassing in battleground states to secure Donald Trump’s election in November. America PAC, co-founded by Elon Musk, had previously flown under the radar until recent media coverage brought attention to its distinctive initiatives and prominent supporters. In a July interview with Jordan Peterson, Musk highlighted the PAC’s activities, noting that it has spent over $20 million since June, according to FEC filings. Besides Musk, notable investors include Cameron Winklevoss, Tyler Winklevoss, Joe Lonsdale, and Doug Leone.
On the same day that Trump was shot during a Pennsylvania rally, Musk posted an endorsement of him on X, noting that Trump showed “courage under fire.” “I fully endorse President Trump and hope for his rapid recovery,” Musk wrote.