Billionaire entrepreneur Elon Musk says he has no current plans to fund a Republican super PAC in the upcoming U.S. elections, including any who oppose President Joe Biden in 2024.
The Tesla and SpaceX CEO, who is listed by Forbes as the wealthiest person in the world, told CNBC in an email that he’s ruled out funding such an outside group. Super PACs can spend and raise unlimited amounts of money to campaign against their opponents, often making them key vehicles for the ultrarich who like to more than dabble in politics. Forbes says his net worth is over $218 billion. Musk is among a group of business leaders who have publicly feuded with Biden and his administration.
“I have no plans to create a super PAC,” said Musk, the CEO of Tesla and SpaceX, when asked if he plans to create his own campaign fund to oust Biden in the presidential contest. “No super PAC anything going on,” when pressed on any plans for the November midterms.
Tech executives such as Sam Bankman-Fried and Peter Thiel have given at least $35 million, combined, to super PACs so far in the 2022 election cycle, according to FEC records. Thiel and Musk are part of the so called “PayPal Mafia,” a group of executives who helped launch PayPal, the financial tech company.
Musk said twice this week that he plans to vote for Republicans in upcoming elections, even though he says he previously voted for Democrats such as former President Barack Obama.
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