Elon Musk, the CEO of Tesla, has announced his plans to support the America PAC, a political action committee backing Donald Trump, the Republican presidential candidate for the upcoming United States election. Reports from the Wall Street Journal state that Musk is set to contribute $45 million monthly to this committee, starting in July.
This decision comes after Musk had made a previous donation to the group supporting Trump’s campaign. The tech billionaire had previously mentioned in a tweet from March 2024 that he would not be donating money to either candidate for US President. However, his recent actions indicate a shift in his stance.
In light of recent events, where Trump survived an assassination attempt during a campaign rally in Pennsylvania, concerns have been raised about Musk’s safety. With Musk’s increased support for Trump, there are fears that opposing entities may target him as well. Musk, in response, hinted at the idea of building a “flying metal suit of armor” for protection.
Trump’s advocacy for the crypto industry has garnered support from prominent figures within the space. Unlike his opponent, Joe Biden, who has shown a more hostile view towards digital assets, Trump has promised to endorse crypto if elected president in November. This stance has led to donations from key players in the industry, such as Kraken co-founder Jesse Powell and the Winklevoss twins, who each contributed significant amounts to Trump’s campaign.
Overall, Musk’s decision to support Trump through substantial financial contributions reflects a growing trend of support for the Republican candidate within the tech and crypto industry. As the election draws nearer, it will be interesting to see how these endorsements impact the outcome and future policies surrounding digital assets in the United States.