Elon Musk, the world’s richest man, contributed $43.5 million to America PAC, a political action committee backing Donald Trump, in early October—a significant boost for Trump as he trails Vice President Kamala Harris in fundraising, reports The Washington Post.
Since July, Musk has donated a total of $118.5 million to America PAC, which has become a key financial supporter in Trump’s re-election efforts, especially as the campaign outsources its get-out-the-vote efforts to outside groups.
Harris Surges Ahead in Fundraising as Campaign Intensifies
Despite Musk’s support for Trump, Harris’s campaign and affiliated committees have raised $189 million in the first 16 days of October, significantly outpacing Trump’s $107 million haul and bolstering her campaign’s financial advantage just weeks before Election Day. Entering October, Harris’s war chest totaled $270 million compared to Trump’s $222 million, allowing her to dominate spending on ads, voter outreach, and campaign staff.
A Closer Look at PAC Contributions Supporting GOP Goals
Musk’s donation to America PAC isn’t his only political support this cycle; he also contributed $10 million to the Senate Leadership Fund, a PAC focused on securing a Republican Senate majority. Other high-profile GOP donors, including hedge fund manager Paul Singer and businessman Warren Stephens, added millions to support Senate and House campaigns, showing broad donor commitment to elect Republicans at multiple levels of government.
Democrats’ Aggressive Spending in House Races as Republicans Match Fundraising
The 2024 cash race has been especially close in the House, with the Democratic Congressional Campaign Committee (DCCC) borrowing $10 million and spending $35 million in early October to match its GOP counterpart, the National Republican Congressional Committee (NRCC), in available cash. This competitive funding will play a significant role as both parties battle for control in a closely watched midterm election cycle.
PACs Drive Record-Breaking Outside Spending for Both Candidates
In addition to Harris’s fundraising success, Future Forward—a major Democratic PAC supporting Harris—raised $89 million in early October, with $25 million from Facebook co-founder Dustin Moskovitz. Future Forward’s recent donations follow significant transfers from affiliated nonprofits, adding $40 million to the PAC’s spending power. Meanwhile, prominent pro-Trump PACs, such as Turnout for America, received contributions from businesswoman Diane Hendricks, while WhatsApp co-founder Jan Koum donated $5 million in Meta stock to Make America Great Again Inc.
Trump’s PAC Covers Legal Bills Amid Campaign Push
Save America, a leadership PAC Trump has relied on to cover legal expenses for himself and associates, received $8.1 million from joint fundraising committees, paying nearly $4 million in legal fees while still owing $1.8 million. The latest campaign finance filings provide the final financial picture ahead of November 5, with both campaigns expected to spend millions more before Election Day.
