Recent financial disclosures reveal that in a late effort, Elon Musk surpassed Timothy Mellon to become the largest individual contributor to federal candidates in the upcoming 2024 elections.
On December 5, federal committees registered with the Federal Election Commission submitted their post-general reports detailing their financial activities from October 17 to November 25. These reports indicated that Musk, who has established a significant influence within President-elect Donald Trump’s inner circle, contributed over $238.5 million to a super political action committee supporting Trump’s campaign for the presidency in 2024.
This contribution positioned Musk above Mellon, a descendant of the Mellon family wealth, who has been a significant financier for the Make America Great Again Inc. super PAC. MAGA Inc. was a key supporter of Trump during his previous campaign for office. Mellon also funded a group endorsing Robert F. Kennedy Jr.’s independent campaign, American Values 2024, in both 2023 and 2024.
Mellon contributed about $197 million in the 2023–2024 election cycle, according to the Money in Politics watchdog organization OpenSecrets.
Musk founded the super PAC America PAC, according to its website. The organization’s main goals are strong borders, safe cities, free speech, sensible spending, a fair justice system, and self-protection. According to its most recent FEC filing, America PAC spent more than $249.9 million in 2024.
Independent expenditure reports attached to the Dec. 5 filing said America PAC spent its money on printing, postage, phone calls, text messages, digital media, canvassing, and field operations largely to boost Trump and oppose the Democratic Party’s candidate, Vice President Kamala Harris. Smaller expenditures were directed toward helping Republicans in races for the House and Senate.
Musk and the PAC attracted considerable media attention by giving away $1 million per day to registered voters who signed a petition supporting free speech and the right to bear arms in the run-up to the election.
The $1 million check promotion also drew attention from both the U.S. Department of Justice and Philadelphia District Attorney Larry Krasner, who attempted to block the gifts by accusing the PAC of running an illegal lottery. That effort was ultimately blocked on Nov. 4 by a judge from the Philadelphia County Court of Common Pleas.
In November, Musk vowed to continue the PAC’s political activities in the coming midterm elections and direct its resources toward smaller local races.
Musk is believed to be among the wealthiest men in the world. Forbes estimates his worth at more than $347 billion. He is the founder and CEO of Tesla Inc. and Space Exploration Technologies Corp.
Since the Nov. 5 federal election, Musk has spent much time in Trump’s transitional government organization and is reportedly speaking with foreign leaders and weighing in on cabinet picks. Musk, along with fellow Trump ally Vivek Ramaswamy, is leading a nongovernmental advisory group called the Department of Government Efficiency, which aims to slash federal spending.
In addition to his support of America PAC, Musk donated to three other groups in 2024—the National Republican Congressional Committee (NRCC), the Calvert Victory Fund, and the Early Vote Action PAC, according to FEC records.
The NRCC is a group dedicated to electing Republicans to the House. The Calvert Victory Fund was a group devoted to reelecting Rep. Ken Calvert (R-Calif.). The Early Vote Action PAC, according to its most recent FEC filing, paid various individuals for “field strategy consulting.”
Additionally, a group registered to a PO Box in Austin, Texas, called the “Elon Musk Revocable Trust,” sent $20.5 million to the super PAC RBG PAC on Oct. 24, according to federal records.
According to its independent expenditure reports, the group supported Trump.
