Elon Musk has announced his intention to allocate approximately $45 million per month to a new fund supporting Donald Trump for the US presidency, as reported by the Wall Street Journal. The fund, named America PAC, aims to focus on activities such as promoting voter registration, early voting, and mail-in ballots in swing states leading up to the November general election. Musk's contributions to this political group are part of a broader effort that includes other prominent backers, such as Joe Lonsdale, co-founder of Palantir, former US ambassador to Canada Kelly Craft, and cryptocurrency investors Tyler and Cameron Winklevoss.

This move follows Musk's formal endorsement of Trump's candidacy for the US presidency, expressed after the former president survived a shooting at a political rally in Butler, Pennsylvania. Musk, who is recognized as the wealthiest individual globally with an estimated net worth of $250 billion, has increasingly aligned himself with Trump throughout the 2024 US election.

While individual campaign donations in the US are limited to $3,300 per person, political mega donors can contribute to funds known as political action committees (PACs), which support candidates. Trump, who had previously criticized mail and absentee voting, has adjusted his stance after recognizing the advantage Democrats held among mail voters.

Musk's significant financial commitment to the pro-Trump super PAC reflects his growing involvement in US politics and his support for the former president's reelection campaign.