BIG BUCK$

Elon Musk Spent $290 Million On 2024 Election

The tech billionaire reportedly donated over a quarter of a billion dollars supporting the GOP in 2024, in an apparently successful move to become one of America’s top influence peddlers.

Elon Musk is now one of America’s top political mega-donors, having given President Donald Trump and other GOP candidates more than $290 million in 2024, according to CNN.

Not all of Musk’s donations to Trump were made before the election. He continued donating after the election, with an $11.2 million donation to Trump’s super PAC, America PAC, reportedly made on Dec. 31.

Trump also raised additional monies following the election, with Trump’s former campaign committee transformed into a leadership PAC called “Never Surrender.” It is able to collect money following his victory and brought in $21 million after the election.

Musk spent about $50 million on “giveaways,” which were called “election incentives,” to encourage voter registration. The giveaway program was challenged in court but allowed to proceed.

The vast majority of the money Musk donated, more than $250 million, went to Trump’s America PAC. He also donated smaller amounts to various other PACs supporting Republican candidates.

MAGA Inc., another important pro-Trump PAC, raised $18.3 million following the election.

Trump’s success in raising vast sums of money following his victory puts him in a strong position to support GOP candidates in the next primary election and shape the Republican Party more broadly.

Musk has a level of access to President Trump that has no clear parallel in American history. His strong position of influence within the administration means this unelected official—who is also unconfirmed by Congress—may be difficult to hold accountable if his decisions prove unpopular.

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Joey McFaddenBreaking News Intern

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