Elon Musk donated over $260 million to political groups in 2024, aiding Donald Trump’s presidential win and securing a role for himself in the Department of Government Efficiency.
The New York Times reported Musk’s total donations to federal groups this election cycle at around $277 million. As CEO of Tesla, SpaceX, and xAI, and owner of X, The Boring Company, and Neuralink, Musk’s contributions make him the largest donor of the cycle, potentially benefiting his companies through Trump’s deregulation policies.
Musk’s xAI recently secured $6 billion in new funds, and his wealth has surged to $361.7 billion since Trump’s victory. Most of Musk’s donations, about $238.5 million, went to the America PAC, which he founded to focus on the presidential race. The PAC funded misleading ads and made significant payments to spokesperson consultants.
Musk also offered $1 million daily giveaways to swing state voters who pledged support for free speech and gun rights. A lawsuit against Musk and the PAC for running an “unlawful lottery” failed to stop the payments.
