Elon Musk contributed more than a quarter of a billion dollars to help Donald Trump win the 2024 election, according to new filings with the Federal Election Commission — a staggering sum that underscores how the billionaire’s financial might powered Trump’s campaign.
Most of that money went through Musk’s pro-Trump America PAC, to which the Tesla and X CEO donated $238 million. And $120 million of that came in the final weeks before Election Day, NBC News reported, citing the group’s latest campaign finance report.
Filings also show that Musk donated more than $20 million to RBG PAC, a super PAC created just days before the election that aired ads claiming that Trump does not support a federal abortion ban. (Trump has made deeply inconsistent comments on the subject, but he did say in October that he opposes a federal ban.)
RBG PAC was the subject of some controversy over its claim that Trump and the late Supreme Court Justice Ruth Bader Ginsburg shared the same views on the issue. Ginsburg’s granddaughter Clara Spera told The New York Times in October, “The use of her name and image to support Donald Trump’s re-election campaign, and specifically to suggest that she would approve of his position on abortion, is nothing short of appalling.”
Musk’s financial contribution to Trump’s re-election has made him the largest political donor this election cycle. NBC News reported last month that Musk stood to reap enormous returns on his investment in Trump:
The potential benefits for Musk and his companies are wide-ranging: possibly touching regulatory issues like labor laws and environmental protections, lower tax rates and the chance for more government contracts for Musk’s rocket company, SpaceX.
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Musk, 53, could also play an influential role in a second Trump administration, as an adviser on spending cuts or in a more substantial way — which could be an ethical morass if he comes to wield power over government agencies that regulate his businesses.
Some of that is already playing out: Musk has been named co-chair of the “Department of Government Efficiency” alongside businessman Vivek Ramaswamy, a nongovernmental task force (not an actual department of the government) that has proposed, among other things, cutting government spending, firing federal employees and ending remote-work policies. As part of that initiative, Musk and Ramaswamy met with lawmakers on Capitol Hill this week to discuss plans to shrink the federal government.
What’s more, Musk seems to be positioning himself to have a direct influence on Trump’s policies and decisions. He has sat in on Trump’s calls with world leaders, like Ukrainian President Volodymyr Zelenskyy, and he has reportedly clashed with Trump aides over the president-elect’s Cabinet picks. NBC News reported in November that Musk has been by Trump’s side so much that his presence has begun to grate on some in the president-elect’s inner circle.
