Elon Musk pledges £37m monthly to support Trump's 2024 bid

As reported by the Wall Street Journal on Tuesday, Elon Musk intends to donate approximately £37 million monthly to America PAC, a group supporting Donald Trump's presidential campaign. This will constitute one of the largest donations from an individual in an American campaign.

The America PAC group is also financially supported by other investors in the new technology industry. Among the donors are brothers Cameron and Tyler Winklevoss, recently known for their investments in cryptocurrencies and previously known for accusing Facebook founder Mark Zuckerberg of stealing their idea for a social networking site. Donors include former Tesla director Antonio Gracias and Douglas Leone, a partner in the well-known Silicon Valley private equity firm Sequoia Capital.

The group, which raised £7 million in June, intends to focus on activities in so-called swing states, where sometimes the Republican candidate wins elections, and other times the Democratic candidate. It will encourage Republican Party supporters to register as voters and to strive for the right to vote by post.

The largest known donation for the current election campaign so far is a £41 million donation from Tim Mellon, heir to the founders of Mellon Bank, in support of Trump.

In March, Musk, whose wealth is estimated by Forbes at £210 billion, stated that he would not financially support any candidate in the presidential election. After Saturday's attack on Trump, he publicly declared his support for him - reminded the AFP agency.

Elon Musk does not hide his support for Trump. For several days, he has been regularly posting statements about the Republican candidate for the White House on his profile on X, praising his decisions, including announcing J.D. Vance as the candidate for the vice-presidency.