Elon Musk has denied paying $45 million per month to a fund supporting former US President Donald Trump’s latest White House run.
In a post-Tuesday X, Musk termed the report that he was sponsoring a so-called political Super-PAC “ridiculous.” Super PACs are special interest groups that can spend an unlimited amount of money on political candidates and causes.
“I am making some donations to America PAC, but at a much lower level and the key values of the PAC are supporting a meritocracy & individual freedom.”
“Republicans are mostly, but not entirely, on the side of merit & freedom,” he added.
Musk’s comments came only days after Vice President Kamala Harris replaced Joe Biden in the Democratic presidential race.
The Wall Street Journal claimed that Musk intends to donate $45 million each month to America PAC, despite Musk’s previous statement that he would not donate to Trump or President Joe Biden.
The Tesla creator formally endorsed Trump’s presidential campaign earlier this month, just after the Republican escaped a shooting at a political gathering in Butler, PA.
Musk is among several prominent sponsors of the new fund, which also reportedly includes Palantir co-founder Joe Lonsdale, former US ambassador to Canada Kelly Craft, and cryptocurrency investors Tyler and Cameron Winklevoss.