Tesla CEO Elon Musk has declared plans to support the America PAC, a political action committee supporting Donald Trump, the Republican presidential candidate for the upcoming United States election.

According to a WSJ report, citing individuals familiar with the matter, Musk intends to devote $45 million monthly to this committee starting in July.

Musk to Support Trump With $45M Monthly

Last week, Musk reportedly donated a “sizeable” but undisclosed amount to the group backing Trump’s campaign. The latest news is a step towards increasing his initial investment to support Trump. Recall that tech billionaire had previously stated in a March 2024 tweet that he would not donate “money to either candidate for US President.”

A few days ago, Trump survived an assassination attempt after a shooting in Pennsylvania during a campaign rally. The 78-year-old presidential candidate was rushed away from the stage while bleeding from the ear.

Since the shooting incident occurred after Musk’s initial investment in Trump’s campaign, several individuals have urged the tech billionaire to be on the lookout as opposing entities may come after him, too. In response, he said via an X tweet:

“Maybe it’s time to build that flying metal suit of armor.”

More Support for Trump

Since the commencement of the presidential campaign between Joe Biden and Donald Trump, the latter has supported the crypto industry. Unlike the Biden regime, which largely held a hostile view of the digital asset ecosystem, Trump promises to endorse crypto in the country if elected president in November.

Trump’s embrace of the crypto industry has earned him the support of prominent figures within the space. For example, Kraken co-founder Jesse Powell donated $1 million in ETH to Trump’s campaign group late last month. An earlier report revealed that the Winklevoss twins, co-founders of Gemini, dedicated $1 million each in BTC to the Republican candidate.

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