Elon Musk Clarifies His Position on Trump Donations Not Donating $45 million a month

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Elon Musk has clarified recent reports claiming he is spending $45 million a month to support former President Donald Trump’s campaign. During an interview with conservative commentator Jordan Peterson, Musk denied these claims but confirmed the creation of a super political action committee (PAC) aimed at supporting Trump.

 

Musk’s comments came during an interview hosted on his platform, X. When Peterson asked Musk about the substantial financial support for Trump, Musk took the opportunity to set the record straight. “What’s been reported in the media is simply not true,” Musk stated. “I am not donating $45 million a month to Trump.”

 

The initial claim was made by The Wall Street Journal, which cited sources "familiar with the matter." However, the publication has not issued any retraction or correction following Musk’s denial.

 

Musk did acknowledge the creation of America PAC, a super PAC designed to support Trump’s campaign. Super PACs can raise unlimited amounts of money for independent expenditures like ads and operational costs but are prohibited from donating directly to the campaign. This distinction allows super PACs to wield significant influence in political campaigns.

 

Several prominent tech industry figures have contributed to America PAC, including Ken Howery, an early PayPal executive, Antonio Gracias, a private-equity leader, Sequoia Capital’s Shaun Maguire, and the Winklevoss twins. Joe Lonsdale, co-founder of software company Palantir and a venture capitalist close to Musk, is also involved in the PAC's leadership.

 

Musk emphasized that America PAC is not intended to be a hyperpartisan entity. He distanced himself from Trump’s Make America Great Again (MAGA) slogan, instead aligning with a philosophy he termed "Make America Greater" (MAG). “I don’t prescribe to [a] cult of personality,” Musk said, although he did praise Trump’s “great courage” following an attempted assassination on July 13, noting that such strength is essential to intimidate America’s enemies.

 

Musk spoke at length about the core values he believes make America great, values he feels are better represented by the Republican party than the Democrats. “One of those values being meritocracy, as much meritocracy as possible, so you get ahead as a function of your skill, and nothing else,” he said.

 

Another principle Musk highlighted was “freedom,” particularly freedom from excessive government intervention. He expressed concern that the government's regulatory reach is expanding every year. “The hand of government gets heavier every year, and if we don’t roll back some restrictions and regulations, eventually, everything will be illegal,” Musk warned.

 

When Peterson asked why Musk was shifting his support to Trump after having voted for Democrats in the past, Musk explained that he perceives the Democratic party as increasingly endorsing censorship. He also criticized a lawsuit filed by the Justice Department under President Joe Biden’s administration against his company, SpaceX. The lawsuit alleged that SpaceX discouraged refugees and asylum seekers from applying for jobs, a claim that Musk vehemently denied. A court order eventually blocked the U.S. from pursuing the lawsuit further.

 

Musk’s interview with Peterson provided a platform for the billionaire to articulate his political stance and respond to the media narratives surrounding his involvement in Trump’s campaign. While he denied the exaggerated financial commitment reported by The Wall Street Journal, his creation of America PAC and his critiques of the Democratic party’s policies and actions indicate a significant political shift.

 

Credit: Fortune 2024-07-24

 

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[Tug]

Aww poor Donnie guess he might have to use his own money lol 😂 oh wait I forgot he has his marks for that.guess Elon isent a mark after all !

[Danderman123]

Not to worry, @susanlea or some other cult member will make up the difference.

[candide]

He's not stupid, after all. He prefers to give other people's money. 😀