One week after the Wall Street Journal reported that Elon Musk planned to contribute about $45 million a month to a new political action committee supporting former President Donald Trump, the billionaire owner of X, SpaceX and Tesla denied the claim.

What You Need To Know

  • Elon Musk said Tuesday that he is not contributing $45 million monthly to former President Donald Trump's presidential campaign

  • On July 16, the Wall Street Journal reported that the world's richest man planned to contribute the sum through a super PAC he helped create

  • Musk told ABC News reporter Arthur Jones that the report "was a fiction made up by the Wall Street Journal"

  • He confirmed he helped create a Super PAC called the America PAC focused on meritocracy and individual freedom, to which he is contributing "at a much lower level"

“At no point did I say that I was donating $45 million a month to Trump,” he told ABC News on Wednesday. “That was a fiction made up by the Wall Street Journal.”

The Wall Street Journal has neither retracted nor clarified its report.

On Tuesday, Musk told media commentator Jordan Peterson the claim was “simply not true.”

He confirmed he created a so-called Super PAC called the America PAC and posted on X Tuesday that he is making contributions “at a much lower level.”

The key values of America PAC “are supporting a meritocracy and individual freedom,” he wrote. “Republicans are mostly, but not entirely, on the side of merit and freedom.”

America PAC is reportedly backed by venture capitalist and Palantir Technologies co-founder Joe Lonsdale, who formerly backed Florida Gov. Ron DeSantis for the GOP nomination, and Cameron and Tyler Winklevoss, cryptocurrency entrepreneurs who sued Mark Zuckerberg over claims he stole their idea to create social media giant Facebook.