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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

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Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

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Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
PoliticsElon Musk

Elon Musk dropped $75 million to elect Trump, making him one of the largest Republican donors

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
October 16, 2024, 11:07 AM ET
Elon Musk has donated $75 million to get Trump elected.
Elon Musk has donated $75 million to get Trump elected. Justin Merriman/Bloomberg via Getty Images

In the span of three months, Elon Musk gave $75 million to his America PAC, a political action committee working to see that Donald Trump is elected president in November, catapulting him to near the top of the Republican Party’s donor list.

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The donations came between July and September of this year, according to federal filings that were made public on Tuesday. Musk was the sole donor to the PAC in the latest quarter, though previous donors include Palantir Technologies cofounder Joe Lonsdale and the Winklevoss twins.

While well-funded, America PAC has had some challenges in getting up and running, firing several vendors and pausing its advertising. Musk noted this on social media, posting “Sorry, so many dumb things happening. Working on fixing.”

The PAC is spending much of its attention on get-out-the-vote operations in swing states.

Musk endorsed Trump in the 2024 election after a gunman opened fire at a Trump rally, killing a spectator and injuring the former president. He has also joined Trump at rallies and advocated for him vigorously on Twitter/X, including with posts about Kamala Harris that have been factually questionable.

As of Tuesday night, America PAC has spent more than $100 million in its support of Trump. It has not, however, paid for any television advertisements, which PACs normally spend their funds on. Canvassing, digital ads, and direct mail have been its focus.

In addition to Trump, the PAC has also lent support to some Republican House and Senate candidates.

Harris, meanwhile, raised $653 million in the third quarter across two fundraising committees. A complete picture of presidential fundraising will be available Sunday, when both campaigns file additional reports.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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