Elon Musk denies millionaire donation to Trump: Media fake news
Musk clarifies that he will not donate $45 million a month to Trump's campaign, debunking media rumours
2' min read
2' min read
Elon Musk said Monday in an interview that he is not donating $45 million a month to Donald Trump's presidential campaign, even though he has created a new super political action committee (PAC) to fund the Republican candidate.
During the interview, hosted on Musk's platform, X, commentator Jordan Peterson asked Musk if he was 'shocked' to donate a significant amount of money to the Trump campaign. Musk - who has criticised Trump in the past, calling him a "bull in a china shop" - responded by saying that the media was wrong. "What has been reported in the media is simply not true," Musk said. "I will not donate $45 million a month to Trump."
The Wall Street Journal first reported the statement, citing sources 'familiar with the matter'. The newspaper has not yet published a denial or an article amending the news.
Musk said he created a super PAC, called America PAC, to help support Trump. A super PAC is a group that can raise unlimited amounts of money for so-called 'independent expenditures' of a campaign, such as for advertisements or day-to-day operations, but does not donate directly to the campaign. They have become prominent among both Democrats and Republicans since the 2010 D.C. Court of Appeals decision that authorised the existence of super PACS. For a normal PAC, donors are limited to $5,000 per year.
Several leaders of technology companies have donated to the America PAC, including Ken Howery, an early Paypal executive with Musk, Antonio Gracias, a private equity leader, Shuan Maguire of Sequoia Capital, and the Winklevoss twins.
