Elon Musk invested $288 million in Trump's election

Elon Musk, the billionaire and co-chair of the US Department of Government Efficiency (D.O.G.E.), played a significant role in Donald Trump's election campaign, directing $288 million towards its support. This level of funding made him the largest private donor in the election, according to The Washington Post.

Shortly before the vote, Musk helped establish America PAC, an organisation designed to coordinate the efforts of advocacy groups supporting Trump. 

In addition to the SpaceX chief executive, the funding for this structure involved his business partners, including Tesla board member Antonio Gracia, Palantir co-founder Joe Lonsdale, and Sequoia Capital investor Sean Maguire.

According to an FEC report, between 26 November and the end of December, Musk contributed $11.2 million in kind to America PAC, directing funds towards so-called "petition drives". Earlier, on 25 November, a similar contribution of $40.5 million was recorded. In total, the entrepreneur spent at least $52.7 million on a programme to incentivise citizens to sign petitions.

Particular attention was paid to registered voters in swing states — Pennsylvania, Georgia, Nevada, Arizona, Michigan, Wisconsin, and North Carolina. Petition signers were encouraged to spread the initiative among other citizens, with cash payments offered. 

On average, $47 was credited for each new sign-up, although in certain regions, such as Pennsylvania, the amount was higher.

In October, Musk announced another initiative — the daily distribution of $1 million among registered voters who had supported petitions as part of the America PAC campaign. The document proposed for signature contained calls to defend freedom of speech and the right to bear arms.

As The Washington Post notes, Musk's investments in the 2024 election have already yielded significant dividends. Following Trump's victory, his wealth surged, largely due to the rise in Tesla share prices.