The entrepreneur has reportedly emerged as a key participant within the US president-elect’s orbit
The world’s richest particular person, entrepreneur Elon Musk, spent no less than $260 million to get Donald Trump re-elected as US president, numerous media shops have reported, citing Thursday’s filings with the Federal Election Fee. The Tesla and SpaceX CEO has emerged as a prime Republican donor and one of the vital outstanding members of Trump’s internal circle, famous the Washington Submit.
Some $238 million of the donations went to a political motion committee (PAC) that Musk based this yr, America PAC, CNN mentioned, citing the filings. Different teams backing Trump benefitted as properly, with the entrepreneur giving $20.5 million to RBG PAC, and $3 million to the MAHA Alliance.
In response to the Washington Submit, Musk spent $232 million supporting Trump and different Republican candidates earlier than the election. After the vote and thru November 25, he gave practically $45 million extra to America PAC, taking his whole political spending to no less than $277 million.
Following the election victory, Trump appointed Musk as his authorities effectivity adviser. The entrepreneur will oversee a brand new Division of Authorities Effectivity, or DOGE, geared toward slicing authorities spending. The billionaire has pledged to audit your complete US authorities, aiming to chop as much as $2 trillion in spending.
The entrepreneur’s affect has led to the media and a few conservatives dubbing him the “co-president of the US” and “the Soros of the appropriate,” referring to billionaire investor and prolific liberal donor George Soros.
Musk is the world’s richest particular person, based on the Bloomberg Billionaires Index, with an estimated whole internet value of $362 billion as of December 6.
The worth of shares in his electrical car firm, Tesla, rose by 80% previously month. The world’s most precious carmaker is anticipated to profit from streamlined regulation on self-driving vehicles throughout the brand new Trump administration.
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