Tesla CEO Elon Musk has attracted attention after denying reports that he would donate $45 million to former President Donald Trump, who is running as a Republican candidate in the upcoming U.S. presidential election.
On Friday, Musk stated on X (formerly Twitter), “This note is false. I have not pledged anything to anyone!” He continued, “I did create a PAC that is focused on supporting candidates who favor a meritocracy and personal freedom, but funding to date has been far below that level.”
On the 15th, the Wall Street Journal (WSJ) reported, citing sources, that Musk planned to donate $45 million monthly to a super PAC supporting Trump’s campaign. While this amount is lower than the $50 million recently donated by Timothy Mellon, great-grandson of Thomas Mellon, to the America PAC supporting Trump, the news of Musk’s potential monthly contributions sparked global interest.
Interestingly, Elon Musk did not publicly respond to these reports until three days later, when he issued his denial. Many have noted that the timing of his statement coincided with Donald Trump’s acceptance speech as the Republican candidate. During his speech, Trump declared that he would “end the electric vehicle mandate on day one,” leading to a more than 4% drop in Tesla’s stock price.
Meanwhile, Musk had stated in March via X (formerly Twitter) that he would not donate to political campaigns this election year. However, he quickly grew closer to Trump afterward and publicly declared his support following the assassination attempt on Trump on the 13th. Musk stated, “I fully endorse President Trump and hope for his rapid recovery.”
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