American billionaire Elon Musk spent at least $288 million to elect US President Donald Trump and other Republican candidates.
This is according to a Washington Post analysis of new Federal Election Commission (FEC) documents that provide an idea of how much was spent during the 2024 election cycle at the end of the year.
How Much Musk Spent on Trump's Reelection
According to the outlet, FEC documents filed Friday cemented Musk's status as the single-largest political donor of the last presidential cycle, when he wielded extraordinary power as a member of Trump's inner circle, whom critics call a de facto, unelected co-president.
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Musk is also a driving force behind efforts to shrink the U.S. federal workforce, helping craft a controversial proposal this week for hundreds of thousands of career government workers to quit and take paychecks through September.
As the publication notes, Musk's “staggering political spending” in 2024 and the extent of his influence over Trump and the levers of the federal government — is a stunning transformation for the world's richest man.
After the election, the president-elect appointed Musk to lead the newly created Department of Government Efficiency, which he tasked with cutting federal spending and regulation. The ill-defined role could give Musk influence over policies and spending decisions that directly affect his companies, such as Tesla and SpaceX.
Musk also helped form America PAC last year to support Trump, including by reaching out to low-propensity voters with a massive canvassing operation in key battleground states. Thanks to an obscure FEC ruling in March that relaxed some rules on communications between campaigns and super PACs, America PAC and other outside groups were able to closely coordinate their messaging and canvassing plans with top Trump campaign lieutenants.
America PAC ultimately became one of the most visible canvassing groups for the Republican candidate, raising $263 million The group's donations come not only from the SpaceX CEO but also from many of his close allies, including Tesla board member Antonio Gracias, Palantir co-founder and Austin tech investor Joe Lonsdale, and Sequoia Capital investor Sean Maguire.
In his year-end report, which covers the period from Nov. 26 to the last day of December, Musk disclosed that he made an $11.2 million in-kind contribution to America PAC on Dec. 31 to “promote petitions.”
In late October, Musk said he would give away $1 million a day in a lottery to registered swing-state voters who signed a petition as part of his super PAC's voter drive. At the time, he said America PAC would give away “$1 million to anyone who signed our petition to support free speech and gun rights”.
An earlier FEC filing showed that Musk made an in-kind contribution of nearly $40.5 million to the petition drive on Nov. 25, meaning he spent at least $52.7 million last year on petition signers. The payments were made through a company known as United States of America Inc.
The program was limited to registered voters in Pennsylvania, Georgia, Nevada, Arizona, Michigan, Wisconsin, and North Carolina. Those who signed the petition were encouraged to send the questionnaire to other voters in swing states. For each correct referral of a registered voter in a swing state, a person could receive $47, with some states, such as Pennsylvania, offering higher incentives.
Democrats immediately questioned the legality of the move. Legal experts noted that federal law prohibits paying Americans to register to vote. And former Republican lawmakers and Justice Department officials wrote a letter to then-Attorney General Merrick Garland and Pennsylvania state officials asking them to look into the legality of the group's payments.
Musk said America PAC would seek to make a significant contribution to the 2026 midterm elections. He also said he plans to run in local elections against liberal district attorneys.
Like Trump, he argues that some of them are too soft on crime and are directly responsible for burglaries and other quality of life problems in cities across the country.
The billionaire's investments in the 2024 election have already paid off handsomely, as his personal fortune has soared since Trump's victory in November. Musk's wealth is largely tied to Tesla shares, which have surged in value since the election. Investors and analysts expect the electric car company to benefit significantly from streamlined regulations for autonomous driving under the new administration.
