A new super PAC, America PAC, has been established with the backing of some of Elon Musk’s closest friends, creating a potential pathway for Musk and his $250 billion fortune to significantly influence the 2024 presidential race. While it remains unconfirmed if Musk has directly contributed, sources indicate he is likely to support the group.
As of June 30, the end of the most recent disclosure period, Musk had not donated to the super PAC. However, his increasing tilt to the right, especially through his commentary on his social media site X, has led Republicans to hope he will begin funding conservative candidates and causes. On Saturday, after former President Donald J. Trump survived an assassination attempt, Musk endorsed Trump on X.
America PAC is reportedly led by Joe Lonsdale, co-founder of the software company Palantir and a venture capitalist in Austin who serves as a political confidant to Musk. Lonsdale has been instrumental in the group’s early fundraising efforts, encouraging influential entrepreneurs to donate. His company contributed $1 million to the PAC.
Early donors to America PAC include several prominent conservatives from the tech industry. Contributions include $1 million from Antonio Gracias, a private-equity mogul and SpaceX board director; $1 million from Ken Howery, an early PayPal executive and former U.S. ambassador to Sweden under Trump; and $500,000 from Shaun Maguire, an investor at Sequoia Capital close to Musk.
The group has disclosed few details about its operations and strategy, but it has been running field and digital programs to support Trump, primarily encouraging early and mail-in voting. Dave Rexrode, a key political operative allied with Governor Glenn Youngkin of Virginia, is reportedly involved in these efforts. Rexrode has not commented publicly on his role.
America PAC, which was first reported by The New York Times, has spent around $15 million supporting Trump in recent weeks, attracting attention from Trump’s allies. The PAC raised $9 million in its first month.
Recent changes in Federal Election Commission rules allow super PACs like America PAC to conduct canvassing while legally coordinating with candidates such as Trump.
Other notable supporters from the tech industry include Cameron and Tyler Winklevoss, cryptocurrency entrepreneurs who each donated $250,000; Doug Leone, a billionaire venture capitalist at Sequoia who contributed $1 million; and John Hering, a tech founder who put in $500,000 and manages a fund that invested in Musk’s takeover of Twitter.
Musk, the billionaire owner of Tesla and SpaceX, has been reticent about his political contributions. In March, he attended a breakfast in Palm Beach, Florida, with Trump and a group of wealthy Republican donors when Trump was seeking campaign funds.
However, Musk’s statements did not rule out the possibility of contributing to outside groups supporting specific candidates. The creation of America PAC by his close associates suggests a potential indirect route for Musk’s financial influence in the upcoming presidential race.
