Elon Musk's Super PAC to Extend Beyond 2024 Election
As the 2024 presidential race draws to a close, Elon Musk, CEO of Tesla and SpaceX, has announced his intention to extend his pro-Trump super PAC beyond the current election cycle. During a live session on his social media platform, X (formerly Twitter), Musk revealed plans to focus on the 2026 midterms and local races.
Musk's decision suggests his belief in a potential Trump victory and a public desire for change. "I think there's a sea change in the country," he stated, expressing hope that his assessment is accurate.
This announcement follows reports of Musk's significant political contributions, exceeding $130 million in publicly disclosed donations. However, the actual amount could be higher. Additionally, allegations surfaced regarding his financial backing of a "dark money" non-profit that contributed $3 million to a super PAC airing ads critical of Vice President Kamala Harris' stance on Israel.
Musk's political activities have not been without controversy. He faced a lawsuit questioning the legality of a $1 million lottery organized by his political action committee, which targeted registered voters in pivotal states.
Despite the controversies, Musk remains vocal about his vision for government efficiency. He has warned of potential hardship for Americans if Republican candidate Donald Trump appoints him to lead efforts to cut the $33 trillion debt.
Analysts believe a Trump victory could positively impact Musk's company, Tesla, despite the overall impact on the electric vehicle industry. This prediction aligns with the analysis of a market analyst who accurately predicted both Trump's 2016 and Biden's 2020 victories. The analyst now sees Trump retaking the White House with a "large majority of swing states.