According to the filings released by the US Federal Election Commission on Tuesday night, Elon Musk, the founder of SpaceX and owner of X, has become one of the largest donors to Donald Trump’s campaign. Following his public endorsement of Trump after an assassination attempt against the former president in Butler, Pennsylvania, in July, Musk has contributed nearly $75 million to his own political action committee, America PAC, which is actively campaigning in swing states for Trump.
Musk is among several Silicon Valley elites who have shown support for Trump. Peter Thiel, a billionaire and cofounder of Palantir, has been a longstanding Trump supporter, although he stated he would not be donating to candidates in 2024. Venture capitalist David Sacks, a friend of Musk, has also supported the Republicans. The Trump campaign has additionally received backing from political action committees and individuals within the cryptocurrency sector.
Musk has contributed more funds to the Trump campaign than almost any other individual from the tech industry. Besides his support for America PAC, Musk has donated over $289,000 to the National Republican Congressional Committee. While some institutions in Silicon Valley, such as the venture firm Andreessen Horowitz, have backed Trump, individual donors from these companies may not all share this stance. For example, Marc Andreessen and his business partner Ben Horowitz each donated $2.5 million to the pro-Trump Right for America PAC last quarter. Despite Andreessen also contributing to the Democratic Congressional Campaign Committee, Horowitz has supported Democratic campaigns and expressed intentions to support Harris over Trump in the future.
The contributions detailed in the article specifically target those benefitting Trump directly rather than broader GOP support. David Sacks donated $6,600 directly to Trump’s campaign, alongside $114,500 to the Republican National Committee and $250,000 to the Trump 47 PAC. Tyler and Cameron Winklevoss, who manage the crypto exchange Gemini, each gave over $350,000 to the Make America Great Again PAC, supporting Trump, and also contributed $250,000 each to America PAC. Shaun Maguire, a partner at Sequoia Capital, has contributed $500,000 to America PAC, $300,000 to the Trump 47 PAC, and $6,600 directly to Trump’s campaign. Billionaire Antonio Gracias and Palantir cofounder Joe Lonsdale both gave $1 million to America PAC. Kenneth Howery, formerly a PayPal Mafia member and ambassador to Sweden under Trump’s administration, donated $1 million to America PAC, alongside smaller direct contributions to Trump’s campaign.
Musk’s donations surpass the combined contributions of these individuals multiple times over, placing him among Trump’s most significant donors alongside others such as Miriam Adelson. Adelson, the widow of Sheldon Adelson, has donated $95 million to the pro-Trump Preserve America PAC recently, including $45 million just in September. Billionaire Timothy Mellon, the heir to the Mellon railroad fortune, remains the campaign’s most substantial donor, contributing at least $115 million to the Make America Great Again PAC this year.
Musk’s financial support, coupled with his vocal endorsement on his platform, has provided substantial assistance to Trump in a close presidential race. Musk is expected to continue his efforts to mobilize voters with appearances in Pennsylvania over the weekend.
