financetom
Business
financetom
/
Business
/
Musk spent over a quarter of a billion dollars to help elect Trump
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Musk spent over a quarter of a billion dollars to help elect Trump
Dec 6, 2024 8:29 AM

WASHINGTON (Reuters) - Elon Musk spent over a quarter of a billion dollars to help Donald Trump win November's presidential election, according to new filings, underscoring the influence one of the world's wealthiest people had on this year's White House race.

The billionaire owner of electric car maker Tesla and SpaceX gave $259 million to groups supporting Trump's 2024 campaign, according to new Federal Election Commission filings released late on Thursday.

The huge donations made Musk one of the biggest underwriters of a presidential campaign in U.S. history, helping him to become a powerful political ally of Trump and someone who now plays a key role in shaping the incoming Republican administration's policy agenda.

Musk gave $239 million to America PAC, a super PAC he founded to help turn out voters for Trump.

In late October Musk gave an additional $20 million to RBG PAC, a group that sought to convince voters that Trump would not sign into a law a national abortion ban, according to the FEC filings. The group's name refers to the late Supreme Court Justice Ruth Bader Ginsburg, a liberal icon known for her support of abortion rights.

Musk, who also owns the social media platform X, has emerged as a close advisor in Trump's transition team. Trump has chosen him, along with former Republican presidential candidate and entrepreneur Vivek Ramaswamy, to head a task force aimed at slashing government spending and regulations.

Musk and Ramaswamy met on Capitol Hill on Thursday with lawmakers whose support they will need to win the sweeping spending cuts Trump has asked them to find.

The two men have called for firing thousands of federal workers, slashing regulations and eliminating programs whose authorization has expired, such as veterans' healthcare.

Musk has also been a regular fixture and Trump confidante at the president-elect's Mar-a-Lago Florida estate during the transition.

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 >
OpenAI plans to announce Google search competitor on Monday, sources say
OpenAI plans to announce Google search competitor on Monday, sources say
May 10, 2024
(Reuters) -OpenAI plans to announce its artificial intelligence-powered search product on Monday, according to two sources familiar with the matter, raising the stakes in its competition with search king Google. The announcement date, though subject to change, has not been previously reported. Bloomberg and the Information have reported that Microsoft-backed OpenAI is working on a search product to potentially compete...
i3 Verticals Shares Fall After Fiscal Q2 Miss, Fiscal Year Guidance Lowered
i3 Verticals Shares Fall After Fiscal Q2 Miss, Fiscal Year Guidance Lowered
May 10, 2024
02:45 PM EDT, 05/10/2024 (MT Newswires) -- i3 Verticals ( IIIV ) shares fell more than 5% in recent Friday trading after the company reported fiscal Q2 results that missed market expectations and lowered its fiscal year 2024 guidance. Earlier, the company reported fiscal Q2 adjusted earnings of $0.34 per diluted share, down from $0.38 a year earlier. Analysts surveyed...
Looking At Uber Technologies's Recent Unusual Options Activity
Looking At Uber Technologies's Recent Unusual Options Activity
May 10, 2024
Deep-pocketed investors have adopted a bearish approach towards Uber Technologies ( UBER ) , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in UBER ( UBER ) usually suggests something big is about to happen. We...
Update: Exxon Hit With $725.5 Million Verdict For Failing to Warn About Gasoline Cancer Risks, Plaintiff Attorneys Say
Update: Exxon Hit With $725.5 Million Verdict For Failing to Warn About Gasoline Cancer Risks, Plaintiff Attorneys Say
May 10, 2024
02:47 PM EDT, 05/10/2024 (MT Newswires) -- (Updated with Exxon Mobil's ( XOM ) reply in the third paragraph.) Jurors in Philadelphia returned a $725.5 million verdict against Exxon Mobil ( XOM ) for failing to warn the public about known health risks from exposure to benzene in its petroleum products, attorneys for the plaintiff said in a statement Friday....
Copyright 2023-2026 - www.financetom.com All Rights Reserved