Elon Musk’s Former Independent Status Is in Doubt as Donations to Trump-Supporting Right-Wing Group Come to Light – Tesla (NASDAQ:TSLA)

Billionaire entrepreneur Elon Musk reportedly secretly funded a conservative political group, Building America’s Futurefor years. This comes before his public support of the former president Donald Trump’s Re-election bid.

What happened: Musk’s donations to the right-wing organization began as early as 2022. These donations, reportedly in the millions, have significantly bolstered the group known for its criticism of the Biden administration and progressive political platforms, Reuters reported.

Building America’s Future, a nonprofit 501(c)(4) group, is not required by federal law to disclose its donors. These organizations, often referred to as “dark money” groups, can support political causes without disclosing the source of their funding.

Despite Musk’s previous public stance of not favoring any of the major U.S. political parties, his donations to Building America’s Future show his financial support of right-wing causes. This revelation comes after Musk’s recent public support of Trump and his announcement that he would fund a political action committee to take on Democrats.

Building America’s Future has criticized the Biden administration on a variety of issues, including illegal immigration, a topic Musk frequently comments on. The organization also recently launched a $10 million advertising campaign aimed at undermining Black support for the vice president Kamala Harris.

Musk, the founder of Tesla Inc. TSLA, SpaceXand the social media platform X, has seen his political leanings shift to the right in recent years. He has become an outspoken critic of the current administration and a strong opponent of identity politics.

Related: Mark Cuban Warns Elon Musk That When the Time Comes Trump Needs Most, He Will Find Out the Truth: ‘His Loyalty Is Only to Himself’

Why it matters: Musk’s financial support for Republican causes began earlier and was more extensive than previously known, the Wall Street Journal reported.

He quietly donated tens of millions to groups linked to Trump’s advisers Stephen Miller and Governor of Florida Ron DeSantis Presidential campaign. Musk’s donations, largely through anonymous channels, positioned him as a major donor to conservative causes and influenced U.S. politics despite a mixed track record in supporting winning candidates.

Transgender issues are of personal importance to Musk, as his transgender daughter publicly cut ties with him in April 2022, just months before he financially supported Miller’s group, according to the Journal.

Musk emphasized his independent political stance in November 2022, stating that while his historical party affiliation had been independent, his voting record had been exclusively Democratic until this year.

Musk’s political affiliation has come under scrutiny in recent years. In August, it was reported that a PAC set up by Musk used voter data to favor Trump Kamala Harris. Later that month, it was revealed that the PAC was under investigation for its voter data collection activities.

In September, Musk’s support for Trump became even clearer when he was labeled an “outspoken” Trump supporter after a journalist was banned from X for publishing leaked documents related to Trump’s vice presidential running mate.

This was followed by a warning from the billionaire Mark Cuban to Musk about Trump’s loyalty, as Benzinga reports.

Image via Shutterstock

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Disclaimer: This content was created in part with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.