Elon Musk, the CEO of Tesla Inc. and SpaceX, donated $15 million to President Donald Trump and the Republican Party, days before he called for the formation of a third party.
Musk’s Donations Disclosed In Campaign Finance Report
Musk made the donations in late June. The donations were disclosed in the campaign finance reports of the pro-Trump MAGA Inc., Senate Leadership Fund, and Congressional Leadership Fund super PACs, reported CNN.
On June 27, Musk contributed $5 million each to pro-Trump MAGA Inc., the Senate Leadership Fund and the Congressional Leadership Fund. The donations were disclosed in the campaign finance report of each entity. However, on June 30, he threatened to establish a third party, the America Party, if Congress passed the “big, beautiful bill.” Musk also donated over $45 million to the America PAC in the first half of 2025.
Trump's MAGA Inc. Raises Nearly $200 Million For 2026 Midterms
The Republican Party, under Trump’s leadership, has been aggressively fundraising for the 2026 midterm elections. Trump’s super PAC, MAGA Inc., raised $177 million in the first half of the year, leaving it with nearly $200 million in available funds.
Besides Musk, the donor list featured billionaire Wall Street trader Jeffrey Yass with a $16 million contribution, cosmetics heir Ronald Lauder with $5 million, and Silicon Valley investor Marc Andreessen, who donated $3 million.
Trump-Musk Rift Complicates SpaceX's Role In US Defense
Musk’s relationship with the Trump administration has been tumultuous since he left in late May. Musk’s donations to the Republican Party and his subsequent change of heart are noteworthy in the context of the current political landscape.
Musk has been publicly critical of Trump’s policies, such as the axing of subsidies on renewable energy. This criticism has been accompanied by Musk’s assertion that SpaceX won NASA contracts by delivering superior performance at lower costs.
Meanwhile, the Trump administration’s reported consideration of other partners, including Amazon’s (NASDAQ:AMZN) Project Kuiper, for the Golden Dome missile defense system has raised questions about SpaceX’s future role in national defense projects.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
