New federal filings reveal that Elon Musk, the world's richest man, spent over $290 million on the 2024 election, significantly aiding Donald Trump and the Republican Party in gaining power.
The year-end filings, covering the final five weeks of the year, show that despite being term-limited, Trump's old campaign committee raised nearly $21 million during this period. Additionally, a top allied super PAC received several million-dollar contributions, including $1 million from the administration's nominee for ambassador to the UK on the day he was tapped to serve.
In response to the party's losses in 2024, the Democratic National Committee also spent heavily in the weeks following the election, dropping more than $56 million on settling headquarters expenses, paying legal fees, and soliciting voter feedback and funds.
The new filings with the Federal Election Commission on Friday, January 31, revealed that Musk contributed about $11.2 million to his main super PAC, America PAC, on the final day of the year. This brought his total political contributions for the cycle to over $290 million, a sum rivaled by only a handful of competing mega-donors.
Musk's end-of-year contributions were earmarked for "petition incentives," related to the million-dollar giveaways he organized through the super PAC in the final stretch of the race. These giveaways aimed to encourage voter registration and faced legal challenges, though they were ultimately allowed to continue.
The latest filing from Musk's super PAC shows that the giveaways cost him over $50 million, out of the more than $290 million he spent on the 2024 election.
Musk's donations in 2024 were primarily aimed at supporting Trump, with about a quarter of a billion dollars going to America PAC, the main super PAC Musk formed for the election.
In addition to America PAC, Musk donated millions to several other super PACs and outside groups supporting various GOP candidates. He also made $10,000 contributions to dozens of state Republican Party committees.
The report also revealed that after the election, Trump converted his 2024 campaign account into a leadership PAC, a type of committee that allows him to continue raising and spending funds for political purposes. The committee, now called Never Surrender, reported nearly $21 million in total receipts during the final five weeks of the year.
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