According to the US Federal Election Commission, Elon Musk invested more than $290 million in the 2024 election, supporting Donald Trump's campaign.
Points of attention
- Elon Musk invested over $290 million in supporting Donald Trump's 2024 election campaign, with a significant portion going to the America PAC super committee.
- Musk transferred $11.2 million to America PAC on the last day of 2024, totaling his campaign spending to over $290 million, including voter incentive programs.
- Despite legal issues, Musk's total spending exceeded $50 million on voter incentive programs and contributions to various super committees and organizations supporting Republican candidates.
- Learn about Russian oligarch Suleiman Kerimov's ownership stake in SpaceX through the Heritage Trust, despite facing US sanctions during Trump's presidency.
- Kerimov's ownership stake in SpaceX began in 2017, a year before US sanctions were imposed, leading to restrictions on his assets and collaborations with American entities.
Musk financed Trump's election campaign with $290 million
Documents filed with the U.S. Federal Election Commission show that on the last day of 2024, Musk transferred $11.2 million to his main super committee, America PAC, bringing his total campaign spending to more than $290 million.
Musk's contributions were mainly directed towards supporting Trump, as about $250 million went to America PAC, which was founded to support Republican candidates.
In addition, Musk has made millions in contributions to other super committees and organizations that support Republican candidates, and has also provided support to local party committees.
Musk also implemented voter incentive programs, despite some legal issues surrounding them. In total, his spending on these programs exceeded $50 million.
What is known about the Russian oligarch's investment in SpaceX
Russian oligarch and billionaire Suleiman Kerimov owned a stake in Elon Musk's SpaceX companies, even while under sanctions imposed on him during Donald Trump's first presidential term.
Kerimov has owned a stake in SpaceX through the Heritage Trust since 2017.
Initially, this trust owned 1% of SpaceX shares.
The SpaceX holding company began operations a year before the US Treasury imposed sanctions against Kerimov and other Russian oligarchs in 2018.
The US Treasury Department blocked Kerimov's assets and banned the Russian oligarch from cooperating with American companies.
