In the final weeks leading up to the 2024 election, Elon Musk contributed an additional $56 million to support Donald Trump and other Republican candidates, bringing his total political donations for the election cycle to at least $132 million, as indicated by federal filings. These contributions, disclosed in documents filed with the Federal Election Commission, underscore Musk’s substantial financial backing of Trump’s presidential campaign and Republican candidates in both the House and Senate.
Musk, who previously made only modest political donations, significantly increased his contributions during the 2024 election cycle. He directed $43.6 million into America PAC, a group he established, during the first half of October, raising his total donations for the year to $118.6 million. This level of financial involvement positions Musk among the top political donors of the 2024 cycle.
The financial disclosures, which cover donations through October 16, offer a comprehensive view of federal campaign and super PAC finances ahead of the November 5 election. Musk’s super PAC is financing efforts to boost voter turnout for Trump in key battleground states and for Republicans in swing districts that could help the GOP secure a majority in the House. America PAC is also funding digital advertising campaigns targeting young men to counterbalance Democratic Vice President Kamala Harris’s support among women voters.
Additional contributions by Musk include $10 million to the Senate Leadership Fund, a super PAC dedicated to electing Republican senators, and $2.3 million to the Sentinel Action Fund, which supports Republican Senate campaigns in states like Montana, Nevada, Ohio, and Pennsylvania.
This heightened political activity from Musk, whose companies hold substantial federal contracts and who has been known to resist government regulations, represents an expansion of his political influence. Musk’s political actions have drawn scrutiny, with the US Justice Department questioning a program by Musk’s super PAC that offers $1 million daily to registered voters in swing states who sign an online petition, citing potential legal violations related to vote incentivization.
Other individuals contributing to America PAC include investor Nelson Peltz and members of the DeVos family, with Betsy DeVos having served as Trump’s Education Secretary. America PAC had spent $47 million and maintained $3.3 million in cash reserves with 19 days remaining before the election, having expended $105 million in support of Trump since its inception earlier in the year.
Musk’s involvement in the 2024 campaign as a political donor is unprecedented, not only through financial contributions but also via public appearances and rallies promoting Trump without the former president’s presence. During a recent event in Pennsylvania, Musk claimed that the upcoming election would determine the fate of America and, by extension, Western civilization.
The former president has expressed an intent to appoint Musk to his administration, should he be re-elected, to lead a new effort focused on reducing government waste, humorously named the Department of Government Efficiency, or DOGE, a nod to a cryptocurrency associated with Musk.
Significant donors have played an essential role in supporting Trump, who has been outpaced by Harris in campaign fundraising. Harris has spent more in media buys across all seven critical battleground states, totaling $352 million compared to Trump’s $214 million. This financial advantage has allowed her to establish over 330 field offices with more than 2,000 staff members facilitating voter mobilization efforts.
Despite the spending gap, the candidates are statistically tied among likely voters in swing states, according to a Bloomberg News/Morning Consult poll, indicating that the final campaign activities could be decisive in determining the election outcome.
Donald Trump’s Campaign:
- Trump and the Republican Party accrued $111 million in the first half of October, with $216 million on hand for the campaign’s closing weeks.
- His main super PAC, Make America Great Again Inc., raised $9.8 million with $31 million in reserves.
Kamala Harris’s Campaign:
- Harris and the Democratic Party raised $188 million in the first 16 days of October, holding $270 million in available funds for the final weeks.
- Her associated super PAC, Future Forward, raised $89 million and had $21 million in cash reserves.
Harris’s campaign continues to draw significant contributions from major Democratic donors, such as Barry Diller of IAC Inc., Lupa Systems CEO James Murdoch, and Tony James, formerly of Blackstone Group. Future Forward received $40 million from allied nonprofit Forward USA Action, $25 million from Facebook co-founder Dustin Moskovitz, and $1 million from venture capitalist Vinod Khosla.
