Elon Musk, the world’s richest man, has made a massive financial impact on the 2024 U.S. elections, spending over $290 million to support Donald Trump and the Republican Party.
According to new federal filings released on January 31, Musk’s political contributions during the final weeks of 2024 were pivotal in bolstering Trump’s campaign and supporting GOP candidates.
The filings revealed that Musk poured significant sums into his primary super PAC, America PAC, including an $11.2 million donation on the last day of the year.
This brought his total political spending for the cycle to an extraordinary $290 million, positioning Musk among the most influential political donors of the cycle.
A large portion of Musk’s donations went directly to supporting Trump. His contributions to America PAC — a super PAC Musk established to support the former president — accounted for the majority of his spending.
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Additionally, Musk sent millions to other super PACs backing a range of Republican candidates and even made $10,000 contributions to various state Republican Party committees.
Musk’s end-of-year contributions were particularly focused on incentivizing voter registration, with his super PAC organizing million-dollar giveaways to encourage participation.
While these initiatives faced legal challenges, they were allowed to proceed, costing Musk more than $50 million in total.
The filings also revealed that despite his term-limited status, Trump’s old campaign committee raised nearly $21 million in the final weeks of the year.
The committee’s transition into a leadership PAC, now called “Never Surrender,” will allow Trump to continue fundraising and spending on political efforts.
Meanwhile, the Democratic National Committee also spent heavily in the closing months of 2024, dedicating more than $56 million to settling expenses, paying legal fees, and ramping up fundraising efforts after losses earlier in the year.
