Elon Musk to commit $45 million per month to super PAC dedicated to electing Trump: Report

Billionaire Tesla CEO Elon Musk is reportedly planning to commit $45 million per month to a super PAC dedicated to electing former President Donald Trump .

People familiar with the matter told the Wall Street Journal that the new super PAC, called America PAC, will also be backed by Palantir co-founder Joe Lonsdale, the Winklevoss twins, coal mogul Joe Craft, and his wife, former ambassador to Canada Kelly Craft.

The outlet reported that the group was formed in June and will focus on getting out the vote for Republicans, encouraging voters to register, request mail-in ballots, and vote early.

Musk dramatically announced his endorsement of Trump in the moments following the assassination attempt against the former president at a rally in Butler, Pennsylvania.

"I fully endorse President Trump and hope for his rapid recovery," Musk said in a post on X about a half-hour after the assassination attempt, along with a video of Trump pumping his fist. The post has 2.3 million likes as of Monday.

He later posted the iconic picture of Trump raising his fist, a post that quickly became one of the top 10 most-liked posts on X in its history.

The rest of the day, Musk reaffirmed his support for Trump and bashed the security failure at the rally.

"Last time America had a candidate this tough was Theodore Roosevelt," he posted, alluding to the time when the former president continued giving his speech after being shot.

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On Monday, the X owner also praised the choice of Sen. J.D. Vance (R-OH) as Trump's running mate, saying he was an "excellent choice."

Trump initially struggled to combat President Joe Biden's fundraising lead but caught up in the past few months. The richest man in the world throwing his hat into the ring for Trump may solidify the former president's fundraising advantage for the rest of the campaign.