Elon Musk, the world’s richest man, spent over $290 million on the 2024 election, according to new federal filings, significantly supporting Donald Trump and Republican efforts to gain power.
The year-end filings, which cover the last five weeks of the year, reveal that Trump’s previous campaign committee raised nearly $21 million during this period, despite being term-limited. Meanwhile, a major allied super PAC received several million-dollar contributions, including a $1 million donation from the U.S. ambassador nominee to the UK, made on the same day he was tapped for the position.
The Democratic National Committee also spent heavily in the aftermath of the party’s 2024 losses, disbursing over $56 million on expenses related to headquarters, legal fees, and efforts to solicit voter feedback and funds.
The filings, submitted to the Federal Election Commission on January 31, show that Musk contributed around $11.2 million to his main super PAC, America PAC, on the last day of the year, bringing his total political donations for the cycle to over $290 million, a sum rivaled only by a few other mega-donors.
Musk’s late-year contributions were earmarked for “petition incentives,” linked to the million-dollar giveaways he organized through America PAC to encourage voter registration. While these giveaways faced legal challenges, they were ultimately allowed to proceed.
According to the latest filings, Musk spent over $50 million of his $290 million election expenditure on these giveaways. The majority of his donations, around a quarter of a billion dollars, went to America PAC, the primary super PAC Musk formed for the 2024 election.
In addition, Musk contributed millions to several other super PACs and external groups supporting various GOP candidates and wrote $10,000 checks to numerous state Republican Party committees.
The report also revealed that after the election, Trump converted his 2024 campaign account into a leadership PAC, known as Never Surrender, which can continue raising and spending funds for political purposes. During the final five weeks of the year, the committee reported nearly $21 million in receipts.
