COLUMBUS, OHIO — Elon Musk and three other billionaires supplied nearly all the money raised last quarter by a super PAC supporting Republican gubernatorial nominee Vivek Ramaswamy, strengthening his financial advantage in the closely watched Ohio governor’s race.
Campaign-finance filings show Musk contributed $5 million to V-PAC: Victors, Not Victims in May. Technology entrepreneur Ratmir Timashev also donated $5 million, while hedge fund manager Bill Ackman and asset-management executive Ross Stevens each contributed $1 million.
Together, the four donors provided $12 million, representing approximately 98% of V-PAC’s second-quarter contributions. Musk, Timashev, Ackman, Stevens and investor Jeffrey Yass have collectively supplied $37 million, or more than 88% of the super PAC’s total funding.
V-PAC spent more than $8.1 million in June on an advertisement attacking Democratic nominee Amy Acton and reported approximately $25.8 million in available cash at the quarter’s end.
Super PACs may raise and spend unlimited amounts but cannot legally coordinate their activities with candidates. Ramaswamy’s campaign and V-PAC did not respond to the Ohio Capital Journal’s requests for comment.
Acton’s campaign criticized the donations as evidence that wealthy interests could influence state policy. Campaign-finance advocates said the concentrated funding could also overwhelm other voices as Ohio prepares for what may become one of its most expensive gubernatorial elections.
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