Elon Musk plans $100M donation to Trump’s political operation

Musk's donation decision came after Trump's purchase of Tesla vehicles, which boosted shares amid declining sales and stock value due to vandalism and criticism of Musk's ties to the Trump administration, the report said Tuesday.

Recent discussions between associates of Musk and the US president have centered around Musk's plan to donate to a Trump-affiliated group, rather than his own super political action committee, America PAC, which supported Trump in the past.

The US billionaire also contributed at least $288 million to help elect Trump and other Republican candidates in the 2024 election cycle, making him the biggest political donor, it added.

Tesla has faced a wave of attacks at its dealerships and facilities, driven by dissatisfaction with Musk’s political activities, including his leadership of the Department of Government Efficiency (DOGE) which seeks to cut the federal workforce and programs.

The vandalism has caused significant financial losses, prompting Trump’s strong stance and public show of support for the company.