Elon Musk is actively supporting former President Donald Trump in the 2024 election, donating nearly $75 million and launching a daily $1 million giveaway to registered voters in battleground states.
This initiative has led to a lawsuit from Philadelphia’s District Attorney over alleged illegal lottery practices.
To participate, individuals must pledge support for the First and Second Amendments through Musk’s America PAC.
Musk’s support aligns with his business interests, as his companies, Tesla and SpaceX, rely heavily on government contracts—over $15.4 billion in the past decade.
These companies are currently involved in various disputes with federal regulators, which could be influenced by the election’s outcome.
Musk’s relationship with the federal government is complex, with significant implications for his businesses, including potential tax benefits if Trump wins.
Trump has indicated that Musk could play a role in a new “government efficiency commission,” which could allow Musk to defer capital gains taxes on any sales of his company stakes, potentially saving him tens of billions of dollars.
However, Musk may resist giving up control of his companies, complicating his involvement in a Trump administration.
