A group of tech and business leaders have backed a new super PAC that is supporting Donald Trump’s campaign for president. According to multiple reports, Elon Musk will soon join them.
Monday night, the New York Times, Bloomberg News, and the Wall Street Journal all said that Musk, the CEO of Tesla Inc. TSLA, +1.78% and the richest person in the world, will soon give a lot of money to the America PAC.
A report filed with the Federal Election Commission on Monday showed that the group raised $8.75 million in the second quarter and spent $7.78 million of that amount. The group was only formed in May.
Reports in the media say that Joe Lonsdale, co-founder of Palantir Technologies Inc. PLTR, +2.14%, and crypto entrepreneurs Cameron and Tyler Winklevoss gave money to the America PAC. Antonio Gracias, founder of Valour Equity Partners and a board member of SpaceX; Kelly Craft, former U.S. ambassador to Canada, and her husband, Joe Craft, CEO of coal producer Alliance Resource Partners ARLP, -0.04%; and Douglas Leone, former managing partner of Sequoia Capital. We heard that they are also backers.
The Journal said that Musk is going to give the super PAC $45 million every month. Both The Times and Bloomberg said Musk was supposed to give money, but as of June 30, he hadn’t.
A list of billionaires put together by Bloomberg says Musk is worth about $267 billion.
Earlier this year, Musk said that he would not be giving money to either presidential candidate. However, on Saturday, just hours after the former president was hurt in an attempted murder, Musk backed Trump.
Musk did not respond right away to requests for comment at his companies, Tesla, X, and SpaceX.
The Journal said that the America PAC’s main goal is to “get out the vote,” and the Times said that it has spent about $15 million in the last few weeks supporting Trump.
