Elon Musk spent $259 million to support Donald Trump’s presidential campaign, making him one of the largest individual contributors in U.S. election history.
U.S. Federal Election Commission (FEC) data reveals Musk donated $239 million to America PAC, which he founded to mobilize voters for Trump. An additional $20 million went to RBG PAC in October, a group aiming to reassure voters that Trump would not enact a national abortion ban.
Musk’s financial support accounted for the majority of Silicon Valley’s $394.1 million contributions to the election. Other notable donors to Trump included Marc Andreessen, who contributed $5.5 million, and Jan Koum, who gave $5.1 million.
Trump’s campaign received a total of $273.2 million from Silicon Valley, reflecting the growing involvement of tech leaders in U.S. politics.
Kamala Harris, Trump’s opponent, received $120.9 million from Silicon Valley donors. Significant contributions included $51.1 million from Facebook co-founder Dustin Moskovitz, $17 million from LinkedIn co-founder Reid Hoffman, and $11.7 million from Ripple chair Chris Larsen.
Harris was supported by advocates of cryptocurrency and innovation-focused policies, seen as more favorable to tech and financial technology industries.
The influence of cryptocurrency advocates was prominent in both campaigns.
Trump accepted bitcoin donations, including $2.5 million from Gemini founders Tyler and Cameron Winklevoss. The crypto industry, now one of the largest contributors in elections, spent $40 million in congressional races and influenced regulatory positions.
Non-profits and Super PACs allowed significant donations to both campaigns, highlighting the lack of transparency in political financing.
Musk’s support for Trump aligns with his interest in deregulation and tax policies that favor industries such as tech, energy, and cryptocurrency. Meanwhile, Harris’s tech-friendly stance gained substantial backing from innovators and entrepreneurs.
