US election: Musk confirms giving ‘some’ donations to pro-Trump super PAC | World News
He said if Trump revoked the Inflation Reduction Act, which gives EV makers up to $7,500 in tax credits per vehicle, it wouldn’t especially harm Tesla | (Photo: Reuters)
By John Harney
Elon Musk confirmed Tuesday that he was “making some donations” to a super political action committee supporting Donald Trump’s presidential campaign, though at a “much lower level” than has been reported.
In tweets on his X social media platform, Musk acknowledged that he had donated to America PAC, which focuses on get-out-the-vote efforts. “Republicans are mostly, but not entirely, on the side of merit & freedom,” he added.
It was reported earlier this month that Musk, the chief executive officer of Tesla Inc., had pledged to give $45 million a month to the super PAC. He used a meme — “FAKE GNUS” — to respond to an article in the Wall Street Journal, which first reported on the amount of his donations to America PAC.
His tweets on Tuesday night were in reply to someone who asked about political donations. “I never said was donating $45M/month to Trump,” he said. He didn’t say how much he had contributed.
Musk endorsed Trump in a post on X shortly after an assassin tried to kill the former president at a campaign rally in Butler, Pennsylvania, on July 13.
America PAC raised $8.8 million in the second quarter, spent $7.8 million and started July with a little less than $1 million cash on hand, according to its most recent filing with the Federal Election Commission.
Palantir’s Joe Lonsdale and crypto billionaires Cameron Winklevoss and Tyler Winklevoss are among other donors to the organization. Musk did not start contributing until this month, according to a person familiar with the matter, and so wasn’t listed in the latest filing with the FEC.
The group does not have to report its donors until its next filing in October.
On Tesla’s earnings call earlier Tuesday, Musk downplayed the risk to the car manufacturer’s business if Trump wins, even though the former president has assailed the rise of electric vehicles.
He said if Trump revoked the Inflation Reduction Act, which gives EV makers up to $7,500 in tax credits per vehicle, it wouldn’t especially harm Tesla.
“There would be some impact but I think it would be devastating for our competitors and would hurt Tesla slightly but long term probably actually helps Tesla,” Musk said.
First Published: Jul 24 2024 | 9:04 AM IST
