According to filings released by the US Federal Election Commission on Tuesday night, Elon Musk, founder of SpaceX and owner of X, is now one of the biggest donors to Donald Trump’s campaign. Since publicly endorsing Trump on the heels of the July assassination attempt against him in Butler, Pennsylvania, Musk has donated close to $75 million to the his own political action committee, America PAC, which is aggressively campaigning on the ground in swing states for the Trump campaign.
Musk has been one of many Silicon Valley elites who have expressed their support for Trump. Peter Thiel, billionaire and cofounder of Palantir, has been a longtime Trump supporter (though he said he would not be donating to candidates in 2024), and venture capitalist David Sacks, who is also a friend of Musk’s, has also thrown his support to the Republicans. Trump has also received support from PACs and individuals in the crypto space.
But Musk has put more money into the Trump campaign than nearly any other individual from the tech industry. In addition to his support for the America PAC, he also donated more than $289,000 to the National Republican Congressional Committee. While some companies and institutions in Silicon Valley, like venture firm Andreessen Horowitz, have backed Trump, individual donors from those same companies may not. For instance, Marc Andreessen and his business partner Ben Horowitz each donated $2.5 million to the pro-Trump Right for America PAC last quarter. Andreessen has also donated to the Democratic Congressional Campaign Committee; Horowitz has backed Democratic campaigns as well, and in early October said he would support Harris rather than Trump going forward.
Sacks donated only $6,600 to Trump’s campaign directly, but $114,500 to the Republican National Committee and $250,000 to the Trump 47 PAC. Tyler and Cameron Winklevoss, who run the crypto exchange Gemini, each donated more than $350,000 to the Make America Great Again PAC, which supports the Trump campaign. The twins also donated $250,000 each to the America PAC. Shaun Maguire, a partner at the venture firm Sequoia Capital, has donated $500,000 to the America PAC, $300,000 to the Trump 47 PAC, and $6,600 to the Trump campaign directly. Billionaire and early Tesla backer Antonio Gracias donated $1 million to the America PAC, as did Palantir cofounder and venture capitalist Joe Lonsdale. Kenneth Howery, a PayPal Mafia member and former ambassador to Sweden under Trump, put $1 million into America PAC in addition to smaller direct contributions to the Trump campaign.
Musk has contributed more to the Trump campaign than all of them combined, several times over. That puts him in a league with Trump’s most lavish donors, including Miriam Adelson, the widow of Sheldon Adelson, who donated $95 million to the pro-Trump Preserve America PAC over the past three months—including $45 million in September alone. Billionaire Timothy Mellon, heir to the Mellon railroad fortune, remains the campaign’s largest donor, having put at least $115 million in the Make America Great Again PAC just this year.
Musk’s largesse, combined with his vocal support of Trump on the platform he controls, has been a windfall for Trump in an increasingly close presidential race. He’ll continue trying to get out the vote in person this weekend with a series of appearances in Pennsylvania.
