The entrepreneur has reportedly emerged as a key player in the US president-elect’s orbit
The world’s richest person, entrepreneur Elon Musk, spent at least $260 million to get Donald Trump re-elected as US president, various media outlets have reported, citing Thursday’s filings with the Federal Election Commission. The Tesla and SpaceX CEO has emerged as a top Republican donor and one of the most prominent members of Trump’s inner circle, noted the Washington Post.
Some $238 million of the donations went to a political action committee (PAC) that Musk founded this year, America PAC, CNN said, citing the filings. Other groups backing Trump benefitted as well, with the entrepreneur giving $20.5 million to RBG PAC, and $3 million to the MAHA Alliance.
According to the Washington Post, Musk spent $232 million supporting Trump and other Republican candidates before the election. After the vote and through November 25, he gave nearly $45 million more to America PAC, taking his total political spending to at least $277 million.
Following the election victory, Trump appointed Musk as his government efficiency adviser. The entrepreneur will oversee a new Department of Government Efficiency, or DOGE, aimed at cutting government spending. The billionaire has pledged to audit the entire US government, aiming to cut up to $2 trillion in spending.
The entrepreneur’s influence has led to the media and some conservatives dubbing him the “co-president of the United States” and “the Soros of the right,” referring to billionaire investor and prolific liberal donor George Soros.
Musk is the world’s richest person, according to the Bloomberg Billionaires Index, with an estimated total net worth of $362 billion as of December 6.
The value of shares in his electric vehicle company, Tesla, rose by 80% in the past month. The world’s most valuable carmaker is expected to benefit from streamlined regulation on self-driving cars during the new Trump administration.
