The Washington Post estimated that Musk invested about $288 million in Trump's victory.
Technobillionaire Elon Musk has spent at least $288 million on various causes related to US President Donald Trump’s election victory.
Technobillionaire Elon Musk has spent at least $288 million on various causes related to US President Donald Trump’s election victory.
This is reported by The Washington Post, citing an analysis of new documents from the Federal Election Commission.
This amount of money solidifies Musk’s status as the largest political donor of the last presidential cycle in the United States.
The publication recalls that last year Musk helped form the so-called America PAC.
In a year-end report covering the period from November 26 to the last day of December, Musk reported that on December 31 he made a $11.2 million contribution to America PAC to «encourage petition signing.»
At the end of October last year, Musk announced that he would give away $1 million in a lottery every day to registered voters who signed a petition.
On November 25, Musk contributed nearly $40.5 million to encourage petition signing, spending at least $52.7 million on this alone.
«The billionaire’s investment in the 2024 election has already paid off, as his personal fortune has skyrocketed since Trump’s victory in November. Musk’s wealth is largely tied to Tesla shares, which have risen sharply since the election. Investors and analysts expect the electric car company to benefit significantly from simplified regulations for autonomous driving under the new administration,» the publication writes.
As dev.ua recently reported, a report by research firm SemiAccurate has fueled rumors that billionaire Elon Musk may be involved in a potential acquisition of Intel, which is going through tough times.
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Musk has risen to the top of the list of the richest people in the world. How much is his fortune estimated to be and what contributed to its increase?
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