close video FOX Business Flash top headlines for July 15
Check out what’s clicking on FoxBusiness.com
Billionaire Elon Musk, coming off his endorsement of Trump after the Republican candidate survived an assassination attempt on Saturday, plans to donate about $45 million per month to a super PAC backing the former president, according to a report.
Formed last month in support of Trump with financial help from some of Musk's friends, America PAC includes Palantir Technologies co-founder Joe Lonsdale, Cameron and Tyler Winklevoss, and former U.S. ambassador to Canada Kelly Craft and her husband, Joe, the chief executive of coal producer Alliance Resource Partners, The Wall Street Journal reported.
The group has spent at least $6.6 million on behalf of Trump, who was nominated at the Republican National Convention on Monday to be the party's candidate for president.
America PAC focuses on registering voters and urging swing state residents to vote early and request mail-in ballots, according to the report. The goal is to counter Democrats' "get out the vote" campaigns and on-the-ground efforts in the months leading up to the November election.
ELON MUSK DONATES TO GROUP WORKING TO ELECT TRUMP: REPORT
Elon Musk plans to donate about $45 million per month to a super PAC backing Trump, according to a report from the Wall Street Journal. (Marc Piasecki/Getty Images / Getty Images)
Musk, who is currently the richest person in the world with an estimated fortune of more than $250 billion, plans to make substantial $45 million donations to the super PAC each month leading up to the election, the report states. The largest known donation of the 2024 election cycle comes from the great-grandson of banker Thomas Mellon, who donated $50 million to a pro-Trump super PAC.
A filing made on Monday revealed that America PAC had $8.75 million in contributions for the three-month period ending on June 30, the WSJ reported, and Musk allegedly signaled that he planned to start his donations this month.
Musk reportedly made a donation to the super PAC last week, according to Bloomberg News, although the size of the donation is unknown.
Musk said in March that he did not plan to donate to the Trump or Biden campaigns, but the SpaceX and Tesla CEO is now putting his support behind the former president, even offering his full endorsement following the assassination attempt on Trump at a campaign rally in Pennsylvania.
"I fully endorse President Trump and hope for his rapid recovery," Musk wrote on X, adding in a subsequent post: "Last time America had a candidate this tough was Theodore Roosevelt."
BLACKROCK PULLS TV AD FEATURING TRUMP RALLY SHOOTER
America PAC focuses on registering voters and urging swing state residents to vote early and request mail-in ballots in efforts to counter Democrats’ “Get Out and Vote” campaigns. (Chesnot/Getty Images / Getty Images)
Musk and Trump have been talking on a more frequent basis in recent months and have become friendly, according to The Wall Street Journal, which also noted that Trump had knowledge of a project Musk was helping organize to prevent voter fraud.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Musk has appeared more favorable toward Trump than Biden on X, often criticizing the current president while expressing support for the former president.
The tech executive also donated $100,000 to a GoFundMe page authorized by Trump to help the victims of Saturday's shooting and their families. One rally attendee was killed protecting his wife and daughter from gunfire, while two other spectators were injured.
The Wall Street Journal contributed to this report.