Tech billionaire Elon Musk said he will commit $45 million per month to a new political action committee backing former President Trump, The Wall Street Journal reported Monday.
Musk’s announcement comes on the same day Trump was named the Republican Party’s official nominee and after he named Sen. JD Vance (R-Ohio) as his running mate.
America PAC will primarily focus on voter outreach and registration efforts, the Journal reported, with the intention to combat Democrats’ traditionally strong similar campaigns.
Other notable backers of the PAC include the Winklevoss twins, tech entrepreneur Joe Lonsdale, former ambassador to Canada and Kentucky Senate candidate Kelly Craft and her husband, coal executive Joe Craft, the Journal said.
The commitment would likely be one of the largest donations of the 2024 presidential campaign. Potentially crossing into hundreds of millions of dollars, Musk’s promised spending would be unprecedented.
Musk’s fortune is worth about $252 billion, according to Forbes. He is the CEO of electric carmaker Tesla and leads space firm SpaceX, as well as the social media platform X.
America PAC was established in May and registered in Texas, according to federal filings. The group raised $8.75 million in the second quarter, according to a filing published Monday, and has just under $100,000 cash on hand as of the end of June.
Musk will begin his donations this month, according to the Journal.
The commitment breaks a previous promise to stay out of the 2024 election for Musk. He endorsed Trump on Saturday, shortly after the former president survived an attempted assassination.
“I fully endorse President Trump and hope for his rapid recovery,” Musk wrote in a post on his social platform X, alongside a video of the former president standing and raising his fist after being shot in the ear.
Musk appeared to be growing closer to Trump in recent months, with the Journal reporting in late May that the billionaire and the former president had discussed a possible advisory role for Musk in a second Trump administration.
Bloomberg first reported Musk’s involvement with America PAC.