financetom
Business
financetom
/
Business
/
Musk donates to group working to elect Trump, Bloomberg reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Musk donates to group working to elect Trump, Bloomberg reports
Jul 12, 2024 7:16 PM

WASHINGTON, July 12 (Reuters) - Billionaire Elon Musk,

who has been ramping up criticism of U.S. President Joe Biden,

has donated to a political group working to elect rival

presidential candidate Donald Trump, Bloomberg reported on

Friday, citing sources.

The report did not indicate how much Musk donated but added

it was "a sizable amount" given to a group called America PAC.

Bloomberg reported that the PAC - a group that can receive

unlimited contributions for political activity - is next

required to disclose its list of donors on July 15.

In March, Trump, a former U.S. President who is expected to

be formally nominated next week as the Republican Party's

candidate for the Nov. 5 election, met with Musk and other

wealthy donors.

In response to reports of the meeting, South Africa-born

Musk posted on X: "Just to be super clear, I am not donating

money to either candidate for US President." In May, he also

denied media reports that there had been talks over a potential

advisory role for him in any Trump presidency.

Musk, the world's richest person who runs electric car maker

Tesla, rocket maker SpaceX, social media company X and

other companies, did not respond to Reuters' request for

comments.

Biden campaign spokesman James Singer said that Musk knows

Trump is "a sucker who will sell America out, cutting his taxes

while raising taxes on the middle class by $2,500."

"Joe Biden has been standing up to people like Elon and

fighting for the middle class his entire career - and it's why

he'll win in November," Singer said in a statement.

Musk in recent years has more fully embraced the Republican

Party, which has weighed on the reputation and sales of Tesla,

the biggest source of his wealth.

Trump last month reiterated his pledge to immediately

abandon the Biden administration's "mandate" to support the

electric vehicle industry. But he added: "I'm a big fan of

electric cars. I'm a fan of Elon."

"He does an incredible job with Tesla."

Musk said they had "some conversations" and Trump is a "huge

fan of the Cybertrucks," referring to Tesla's electric pickup

trucks.

While he has publicly criticized Biden's policies on

immigration and electric vehicles and even his age, Musk has not

made any formal endorsement in November's contest and Trump has

said he did not know if he has Musk's support.

He has also endorsed antisemitic comments on X, though Musk

has denied being antisemitic.

Musk's views have hurt his standing among some consumers,

according to a CivicScience survey shown exclusively to Reuters.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Mar 22, 2024
(Reuters) - Popular investor Cathie Wood's ARK Invest bought nearly 10,000 shares of Reddit ( RDDT ) in the social media platform's strong market debut on Thursday, an email from the asset manager showed. A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF ( ARKW ) and ARK Fintech Innovation ETF (...
Once a beacon of stability, Vietnam to name third president in a year
Once a beacon of stability, Vietnam to name third president in a year
Mar 22, 2024
HANOI, March 22 (Reuters) - Communist-ruled Vietnam is seeking its third president in little more than a year after the resignation of Vo Van Thuong, who was only elected last year after the sudden dismissal of his predecessor. With accumulated foreign direct investment higher than its gross domestic product, Vietnam's stability is crucial to multinationals with large operations in the...
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Mar 22, 2024
05:04 AM EDT, 03/22/2024 (MT Newswires) -- Hutchmed ( HCM ) said late Thursday it has started the registration stage for a phase 2/3 clinical trial of investigational drug sovleplenib for adult patients with warm antibody autoimmune hemolytic anemia in China. The move follows positive data from the proof-of-concept phase 2 stage of the trial and a consultation with the...
Japan's union group Rengo announces biggest wage hikes on record
Japan's union group Rengo announces biggest wage hikes on record
Mar 22, 2024
TOKYO (Reuters) -Japanese firms have agreed to raise pay by 5.25% this year, the biggest rise under comparable data since 2013, the country's largest union group Rengo confirmed on Friday. The results of the closely-watched wage negotiations are announced in several stages, in which the blue-chip firms are first to wrap up their talks in mid-March. The second announcement on...
Copyright 2023-2026 - www.financetom.com All Rights Reserved