Recent campaign finance reports reveal that Elon Musk has injected nearly $44 million into a super PAC aimed at aiding Donald Trump's return to the White House. This contribution brings Musk's total donations to the group he established for the former president to almost $119 million. The influx of funds from the world's wealthiest individual comes as Vice President Kamala Harris outpaces Trump in fundraising, amassing around $97 million compared to Trump's $16 million in the first half of October.
Both candidates and their affiliated political entities have been on a spending spree this month, collectively burning through over half a billion dollars as they vie for an edge leading up to Election Day. Harris' principal campaign committee outspent Trump's, with nearly $166 million spent between October 1 and 16, primarily on media expenses.
Harris' robust fundraising efforts since becoming the Democratic nominee have provided her with a substantial financial advantage in the final stretch of the race. With almost $119 million still in her campaign's coffers, she holds over three times the remaining funds that Trump has at his disposal.
AdImpact data reveals that Harris has utilized her financial advantage to dominate the airwaves in battleground states, with her campaign spending approximately $488 million on advertising since President Joe Biden's withdrawal from the race. In contrast, Trump has spent about $284 million during the same period.
Elon Musk has emerged as a significant financial player in this election cycle, supporting Trump's get-out-the-vote efforts in key battleground states. Musk's America PAC received four donations totaling $43.6 million in the first half of October, in addition to $12.3 million in contributions to other super PACs primarily backing Republican Senate control efforts.
Other notable donors supporting Trump include Richard Uihlein, who contributed $6.5 million to Restoration PAC, and Jan Koum, who donated $5 million worth of stock to Make America Great Again, Inc. On the other side, Facebook co-founder Dustin Moskovitz gave $25 million to Future Forward, a super PAC supporting Harris.
The filings also highlight contributions from Liz Cheney's political action committee to American Bridge 21st Century, a group aiding Harris. Additionally, Trump's legal bills continue to be funded by his political operation, with Save America spending $3.9 million on legal consulting between October 1 and 16.
