Despite a bombshell report and a shout-out of gratitude from Donald Trump, Elon Musk has broken the news that he is not donating $45 million monthly to a Super PAC backing Trump's campaign.
In an interview with Jordan Peterson published Monday, Musk denied a Wall Street Journal report from last week that alleged the billionaire had agreed to make the mega-donations to America PAC after publicly endorsing Trump in the 2024 election.
"What's been reported in the media is simply not true," Musk told Peterson. "I am not donating $45 million a month to Trump."
Related: WSJ Report Claims Elon Musk Is Donating $45 Million a Month to Pro-Trump Super PAC
Musk clarified his comments on X on Wednesday, admitting that though he was donating money to the conservative-backed Super PAC, the original claims are "ridiculous" in nature.
"I am making some donations to America PAC, but at a much lower level and the key values of the PAC are supporting a meritocracy & individual freedom," he said. "Republicans are mostly, but not entirely, on the side of merit & freedom."
A separate report from Bloomberg alleged that Musk had made donations to the America PAC in June but didn't specify how much he had donated, at the time.
During a rally in Michigan last weekend, Trump addressed the report of Musk's alleged monthly donations, saying that he was unaware that it was happening but shouted out his "love" for Musk nonetheless.
Related: Donald Trump Praises Elon Musk, Says He Didn't Know About Musk's Donations Supporting His Campaign
"I read — I didn't even know this, he didn't even tell me about it — but [Musk] gives me $45 million a month," Trump said, at the time. "I talked to him just a little while ago to say I was coming here, 'How you doing?' and he didn't even mention it."
Musk publicly backed Trump following the attempted assassination of the former President on July 13, saying that he would "fully endorse" him and called for his "rapid recovery."
The Tesla founder also called Trump's VP nomination, Ohio Sen. J.D. Vance, an "excellent decision."
Before you consider Tesla, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tesla wasn't on the list.
While Tesla currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
