Billionaire Elon Musk, the CEO of electric vehicle maker Tesla, said on Wednesday that he will not donate money to either Republican presidential candidate Donald Trump or Democratic President Joe Biden in this year’s election. This comes one day after Musk met with Trump in Florida.
“Just to be super clear, I am not donating money to either candidate for US President,” Musk said in a post on his social media platform X, formerly known as Twitter.
The announcement deals a blow to Trump, who has a significant cash disadvantage as he launches into a general election rematch with Biden. Trump’s last Republican rival, Nikki Haley, dropped out of the race on Wednesday, all but locking up the GOP nomination for the former president.
Trump met with Musk, one of the world’s richest individuals, with a small group of other people in Florida over the weekend, a source confirmed to Reuters, as the former president seeks a major cash infusion for his campaign.
While Musk’s comments rule out direct donations to the candidates, it does not preclude donations to a super political action committee or other political causes.
Musk, who is worth $192 billion according to Bloomberg’s Billionaire Index, has been a vocal critic of Biden’s policies, particularly regarding the migrant crisis at the US-Mexico border. In 2022, Musk asked Americans to elect a Republican Congress to counterbalance Biden’s Democrats, stating on X that Biden is encouraging migrants to come to the United States so they can vote for Democrats, even though non-US citizens are ineligible to vote in federal elections.
The playing field is uneven heading into the general election. Trump began February with $30.4 million in campaign funds, compared to Biden’s $130 million war chest, according to federal filings. Trump’s court cases have also been a financial drain.
Lauren Hitt, a Biden campaign spokeswoman, welcomed Musk’s decision, saying, “The campaign just broke our grassroots fundraising record for the fourth month in a row, so we’re good. But someone should check in on Donald Trump’s lawyers who are now probably more than a little panicked about getting stiffed again.”
Musk has not deployed his wealth significantly in politics, donating less than $1 million since 2009, according to Federal Election Commission records.
(With inputs from agencies)
“Just to be super clear, I am not donating money to either candidate for US President,” Musk said in a post on his social media platform X, formerly known as Twitter.
The announcement deals a blow to Trump, who has a significant cash disadvantage as he launches into a general election rematch with Biden. Trump’s last Republican rival, Nikki Haley, dropped out of the race on Wednesday, all but locking up the GOP nomination for the former president.
Trump met with Musk, one of the world’s richest individuals, with a small group of other people in Florida over the weekend, a source confirmed to Reuters, as the former president seeks a major cash infusion for his campaign.
While Musk’s comments rule out direct donations to the candidates, it does not preclude donations to a super political action committee or other political causes.
Musk, who is worth $192 billion according to Bloomberg’s Billionaire Index, has been a vocal critic of Biden’s policies, particularly regarding the migrant crisis at the US-Mexico border. In 2022, Musk asked Americans to elect a Republican Congress to counterbalance Biden’s Democrats, stating on X that Biden is encouraging migrants to come to the United States so they can vote for Democrats, even though non-US citizens are ineligible to vote in federal elections.
The playing field is uneven heading into the general election. Trump began February with $30.4 million in campaign funds, compared to Biden’s $130 million war chest, according to federal filings. Trump’s court cases have also been a financial drain.
Lauren Hitt, a Biden campaign spokeswoman, welcomed Musk’s decision, saying, “The campaign just broke our grassroots fundraising record for the fourth month in a row, so we’re good. But someone should check in on Donald Trump’s lawyers who are now probably more than a little panicked about getting stiffed again.”
Musk has not deployed his wealth significantly in politics, donating less than $1 million since 2009, according to Federal Election Commission records.
(With inputs from agencies)