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Home Top Stories

Musk’s Financial Support Fuels Trump’s Bid for the Presidency

The Global Economics by The Global Economics
October 23, 2024
in Top Stories, Trending
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Musk's Financial Support Fuels Trump's Bid for the Presidency

Musk's Financial Support Fuels Trump's Bid for the Presidency

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The passionate support for Donald Trump through Elon Musk in the upcoming US election can cross boundaries beyond incendiary tweets and campaign cash.

Billionaire businessman and investor, Elon Musk, known for his key roles in the space company SpaceX and the automotive company Tesla, Inc has donated and promoted to a super political action committee which is known to be working towards getting Donald Trump elected to the White House. In order to make his imprint on the US political landscape, this is known to be a major gambit by the world’s richest man. 

A low profile group was created by Musk called the America PAC. The group defines these ideals as the pursuit of secure borders, responsible spending, safe cities, a fair justice system, free expression, and self-defence. The details of how much Elon Musk has contributed to the group are unclear but the amount was big as mentioned by the sources. 

In the past three months, Elon Musk has reportedly donated $75 million to America PAC. In the support of Donald Trump in the upcoming election the entrepreneur has founded a political action committee. The pro-trump group and Elon Musk together aim to gain an increased influence in Republican politics and a possible re-election of the Trump administration. 

Musks Companies Account for Billions in Federal Contracts

The America Pac submitted filings to the Federal Election Commission which displayed details of the donations made by Musk. He has reportedly donated $15m in July, $30m in August and another $30m in September. He is known to be the only donor of the political action committee. 

The passionate support for Donald Trump through Elon Musk in the upcoming US election can cross boundaries beyond incendiary tweets and campaign cash. This is a possibility if the former president gets re-elected to the White House. 

The world’s richest individual has become increasingly involved in Trump’s campaign, essentially placing his own X account, which has nearly 200 million followers, at the candidate’s disposal.

To fund anti-immigrant and anti-transgender advertisements by a group called Citizens for Sanity, Musk has spent more than $50 million in 2022. The group’s officials work for America First Legal, a non-profit founded by Trump aide Stephen Miller.

Building America’s Future is a rightwing group which was also funded in millions by Elon Musk. This group focuses on decreasing support of Black voters of Kamala Harris. The group has also released advertisements against Joe Biden and Harris’s Mexican border stance.

Shown in a separate FEC filings, Miriam Adelson is known to single-handedly donate to another pro-Trump Super Pac, Preserve America Pac a sum of $95 million. 

Trump’s campaign has been strongly supported by Elon Musk who has increased his personal involvement. He recently announced his plans of travelling to the must-win state of Pennsylvania to conclude his election cycle to give “a series of talks”. 

The billionaire, Elon Musk who has gone all-in to support the Republican Donald Trump had pledged to donate $1 million to the voters for signing his political action committee’s petition backing the Constitution. There are rising questions among election experts about the legality of the plan. 

Every registered voter in key swing states will be given $1 million (£766,000) a day until the US presidential election by the tech billionaire Elon Musk. 

The winner will be chosen at random from people who sign a pro-US Constitution petition created by Musk’s campaign group America PAC, which he founded to help to reclaim the White House.

On Saturday night, a delighted attendee at a town hall gathering in Pennsylvania received the first lottery-style payout. Another check was distributed.

Pennsylvania Governor Josh Shapiro, a Democrat who supports Kamala Harris, described Musk’s strategy as “deeply concerning.”

The spectacle was known to be both illegal and strange. Although nobody seems to be bothered and care less, including Elon Musk. 

Musk’s latest tactic to help Trump gain political power has been to give out $1 million every day to a member of the public, as long as they live in a swing state and are eligible to vote. It is believed by most experts that Musk’s strategic plan is said to be illegal and equivalent to purchasing votes since it violates federal election law. The law also prohibits paying for voter registration. The Democratic Governor, Josh Shapiro stated this move as a deeply concerning one and urged the law enforcement to look into the matter. 

Source: short URL
Tags: Donald TrumpKamala HarrismuskspaceXus
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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