How Elon Musk’s Political Donations Compare to Top 10
May 27, 2025
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Elon Musk outstripped all other political donors in the 2024 election cycle, contributing around $292 million to political causes.
Musk, who owns Tesla and SpaceX, spent almost $100 million more than the second biggest contributor, American businessman Timothy Mellon, and millions more than the other top 10 contributors in 2024, according to data compiled by OpenSecrets.
Why It Matters
Financial support was a key factor in securing President Donald Trump’s victory in the November 2024 presidential election
Musk is one of Trump’s key allies and after winning the presidential election he appointed Musk to the newly created, unofficial Department of Government Efficiency (DOGE). However, in legal documents Trump said that the Tesla CEO did not run the department; he has recently taken a step away from his political role to focus on Tesla and SpaceX.
In May, Musk, the richest person in the world, said he plans to cut back on political spending, telling a conference he had “done enough.”
Elon Musk, center, looks on as President Donald Trump meets South African President Cyril Ramaphosa in the Oval Office at the White House on May 21, 2025, in Washington D.C. Elon Musk, center, looks on as President Donald Trump meets South African President Cyril Ramaphosa in the Oval Office at the White House on May 21, 2025, in Washington D.C. AP Photo/Evan Vucci
What To Know
According to the data recently shared on X, formerly Twitter, Musk donated $292 million to political causes in 2024. Mellon, also a Trump donor, spent $197 million.
Coming in at third place was Miriam Adelson, an Israeli-American physician and Trump supporter. She spent $148 million on Republican campaigns..
Close behind, Richard and Elizabeth Uihlein, the billionaire owners of business supply company Uline, spent $144 million on Trump causes.
Kenneth Griffin, the CEO of Citadel, spent $108 million on Republican candidates, trading company owners Jeffrey and Janine Yass spent $101 million and Paul Singer, a hedge fund manager, spent $67 million.
The eighth and ninth biggest donors were to Democratic causes. Michael Bloomberg, a businessman and former mayor of New York City, donated $64 million to Democratic campaigns and Dustin Moskovitz, an American internet entrepreneur, spent $51 million.
The 10th biggest spender, Marc Andreessen, a businessman and former software engineer, spent $42 million. OpenSecrets said these donations were mostly to a nonpartisan campaign group.
Elon Musk topped all political donors in 2024 with nearly $300M in contributions.
While both parties raised major funds, Democrats saw far fewer of the ultra-high-dollar contributions. pic.twitter.com/DHCFkyNEYU
— Political Polls (@PpollingNumbers) May 27, 2025
Meanwhile, the president also raised money from major companies. According to Rolling Stone, Chevron, ExxonMobil and Occidental Petroleum contributed to Trump’s inauguration committee. Tech giants Amazon and Meta also donated $1 million each, along with Uber and Qualcomm.
OpenSecrets found in November that Kamala Harris, Trump’s Democratic rival, received $400 million from her 20 largest backers.
What People Are Saying
Elon Musk on cutting back on political spending: “If I see a reason to do political spending in the future, I will do it. I do not currently see a reason.”
What Happens Next
Republicans and Democrats will be looking to bolster their coffers ahead of the November 2026 midterms.
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