Elon Musk, the world’s richest man, spent more than $290 million on the 2024 election, new federal filings reveal, helping boost Donald Trump and Republicans.
The year-end filings, covering the final five weeks of the year, showed Trump’s former campaign committee — despite being term-limited — raised nearly $21 million during this period. Additionally, a major allied super PAC received multiple million-dollar contributions, including a $1 million donation from the nominee for ambassador to the UK, made on the same day he was tapped for the role.
Meanwhile, the Democratic National Committee also made significant expenditures following the party’s 2024 losses, spending over $56 million to cover headquarters expenses, pay legal fees, and engage with voters.
The filings with the Federal Election Commission, made public on January 31, showed that Musk contributed around $11.2 million to his main super PAC, America PAC, on the final day of the year. This brought his total political giving for the cycle to over $290 million, a sum matched by only a few other mega-donors.
Musk’s end-of-year contributions were directed towards “petition incentives” related to his super PAC’s million-dollar giveaways, aimed at encouraging voter registration in the race’s final stretch. Although the initiative faced legal challenges, it was ultimately permitted.
The filings show that the giveaways cost Musk over $50 million, part of the more than $290 million he spent on the 2024 election.
Most of Musk’s donations in 2024 supported Trump, with a significant portion going to America PAC, the main super PAC Musk created for the election. Musk also contributed millions to other super PACs and outside groups supporting GOP candidates, and donated $10,000 to multiple state Republican Party committees.
Additionally, the report revealed that Trump converted his 2024 campaign account into a leadership PAC, enabling him to continue raising and spending funds for political purposes. This new committee, called Never Surrender, reported nearly $21 million in receipts during the final five weeks of the year.
