After formally endorsing presidential candidate Donald Trump for the 2024 U.S. Presidential Election, Elon Musk is showing his support by pledging a hefty monthly donation to a Super PAC.
According to a report by the Wall Street Journal, Musk has reportedly agreed to donate $45 million a month to America PAC, which was founded in June and primarily focused on registering new voters and encouraging registered voters to vote early and by mail-in ballots in swing states.
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Other donors to the Super PAC include the Winklevoss twins and Joe Lonsdale, co-founder of Palantir.
According to filings seen by the Wall Street Journal, America PAC had received $8.75 million in contributions for the three-month period that ended on June 30.
Bloomberg previously reported that Musk donated to the Super PAC but the amount at the time was not disclosed. He will reportedly begin the monthly contributions in July.
Musk took to X on Saturday to formally endorse Trump for President and call for his “rapid recovery.”
I fully endorse President Trump and hope for his rapid recovery pic.twitter.com/ZdxkF63EqF
— Elon Musk (@elonmusk) July 13, 2024
The billionaire also called Trump’s choice of Ohio Sen. J.D. Vance as his vice president nominee an “excellent decision.”
Musk’s backing of Trump is a strong departure from his original stance before the 2016 election when he denounced the former President as a viable option for office in an interview with CNBC.
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“I feel a bit stronger that he is probably not the right guy,” Musk said, at the time. “He doesn’t seem to have the sort of character that reflects well on the United States.”
As of Tuesday afternoon, Musk’s net worth was an estimated $267 billion.