Donald Trump’s 2024 campaign raised almost $1.1 billion, with individual megadonors such as Elon Musk—the tech billionaire responsible for PayPal, Tesla, and SpaceX—contributing extraordinary amounts of money.
Musk was able to funnel over $300 million into Trump’s campaign effort through his newly founded super Political Action Committee (PAC), which he named America PAC. Super PACs allow for “unlimited contributions from individuals,” meaning that Musk is able to effectively bypass individual campaign contribution limits and direct these enormous amounts towards candidates and ballot measures that benefit his agenda.
The New York Times recently revealed the jarring fact that “Mr. Musk almost single-handedly funded an effort that cost more than $175 million. His canvassers knocked on close to eleven million doors in presidential battleground states since August, including about 1.8 million in Michigan and 2.3 million in Pennsylvania,” proving Elon’s importance.
In Pennsylvania—a state where Elon Musk’s contributions helped knock on over two million doors—Trump won by just 142,312 votes. I believe Pennsylvania and Michigan, crucial factors in Trump’s victory, would have played out very differently had it not been for the Tesla CEO’s assistance.
Sources close to Musk reported he’s uninterested in a full-time government role, as his tech empire keeps him occupied. Pundits predict he’ll likely take on a committee position, while attaining immense political power.
The influence Musk has gained threatens a key tenet of democracy: those representing a nation should be chosen by the people, instead of purchasing their power.
While Musk might argue that he’s just like any other donor, just richer, I believe Trump’s reliance on Musk’s money leaves him indebted to the billionaire. Whether through subsidies, favorable policies, or an important role within Trump’s administration, Musk’s political involvement is far from over. Despite the fact he doesn’t have to run again, Trump doesn’t want Elon’s money going the wrong way come the 2026 midterms.
The world, including Trump, understands how billionaires influence elections. He said it himself during his first campaign, claiming, “The system is rigged. I know because I rigged it,” referring to the way that business people can look to capitalize on donations to politicians. A lifelong Democrat until his personal involvement, Trump gave millions of dollars to blue candidates throughout the years. Campaign funding is crucial, and the polarizing two-party system allows megadonors to pressure politicians, Democrats and Republicans alike, into supporting their interests.
Trump has announced plans to appoint Musk as the head of the newly imagined Department of Government Efficiency (DOGE). An easy way to put his “money guy,” DOGE is Trump’s way of thanking Elon for his contributions. Since the news, Musk has said DOGE’s responsibilities will include slashing over two trillion dollars from the national budget.
Since Musk has gotten a taste of the power he so desires, I think no one should be surprised when Trump and his allies find their pockets laden with Tesla money as a result of political favors that allow Musk to exercise his power.
This quid pro quo approach sets a dangerous political precedent which goes against the very definition of democracy, as it takes away from our nation’s every-person outlook on governance.
This article also appears in our November 2024 print edition.
