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TECH giant Elon Musk has shot down claims that he is donating millions of dollars a month to Donald Trump.

Rumors have swirled about how Musk reportedly spends $45 million per month in a bid to get the former president reelected this year.

Elon Musk has denied claims that he is going to send $45 million a month to a Republican super PAC to help fund Trump's reelection bid
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Elon Musk has denied claims that he is going to send $45 million a month to a Republican super PAC to help fund Trump's reelection bidCredit: Getty
His endorsement of the former president comes as the pair reportedly discuss Musk's possible future in the White House
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His endorsement of the former president comes as the pair reportedly discuss Musk's possible future in the White HouseCredit: Getty

While the Tesla co-founder has set up a new political action committee that funds Trump's reelection bid, he has denied the monthly payment claims.

The rumors began when they were first reported by after speaking with people "familiar with the matter."

Musk is the second richest person in the world with an estimated net worth of $195 billion, according to .

Musk was reportedly prepared to send the multi-million dollar monthly payment to the PAC called America PAC which has other wealthy backers including the Winklevoss twins, Lonsdale, and the Crafts.

Musk was due to start payments in July with the PAC already having $8.75 million by June 30 from other donors, according to the WSJ.

Super PACs such as this one do not have a fundraising limit unlike normal PACs which are limited to $5,000 per year per donor.

"What's been reported in the media is simply not true," Musk Jordan Peterson during an interview on X.

"I am not donating $45 million a month to Trump.”

His comments came after the right-wing commentator was asked if he was "shocked" at himself for donating so much money to help the Republican candidate with whom he has a complex relationship.

The billionaire previously criticized the former president, calling him a "bull in a china shop."

Kamala Harris will go ‘toe to toe with Trump’ with ‘guns blazing'

He also has a long voting history of siding with Democrats.

Earlier this year he also vowed to followers on X that he would not be donating any money to either 2024 presidential candidate.

“Just to be super clear, I am not donating money to either candidate for US President," he in March.

'MERIT AND FREEDOM'

However, following the attempted assassination of Trump, Musk has publicly endorsed the businessman who he said showed "great courage" since the Pennsylvania shooting.

"I fully endorse President Trump and hope for his rapid recovery," the tech billionaire on X after the shooting in which a bullet grazed Trump's right ear.

He also told Peterson earlier this week that the Democrats have become a party that represents censorship.

What happens now that Biden is out?

President Biden has endorsed Vice President Kamala Harris but naming a new Democratic nominee won't be a simple process.

Here's what's next after Biden's stunning announcement.

Biden secured nearly 4,000 delegates by winning state caucuses and primaries earlier this year. He was set to officially be named the Democratic nominee at a virtual vote ahead of the Democratic National Convention, which begins on August 19.

However, Democratic party rules don't allow Biden to simply pass his 3,896 delegates to Harris or another candidate.

Harris will now have to convince those nearly 4,000 delegates and 700 superdelegates to support her and name her nominee.

Delegates are free agents who can choose to support whichever candidate they want - likely without input from voters at this stage since primaries and caucuses were already held.

All eyes are now on the previously planned virtual vote - where the Democratic party could choose a nominee before the DNC begins.

Biden's endorsement of Harris will likely sway delegates and no one has publicly challenged her as a candidate - but delegates are not required to back her.

Even if the virtual vote isn't held, the party could still choose Harris or another candidate before the convention.

If Democrats don't name their nominee before the DNC, it'll be the first open and contested convention since 1968.

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While claiming that he does not subscribe to Trump's adage of Maga, he admitted that his values lie with "Mag" or Make America Greater, according to .

“I don’t prescribe to [a] cult of personality," he said.

In a post after his interview with Peterson, Musk confirmed that he will be sending a "lower level" of funds to the PAC.

"I am making some donations to America PAC, but at a much lower level and the key values of the PAC are supporting a meritocracy & individual freedom,".

"Republicans are mostly, but not entirely, on the side of merit & freedom."

TENSIONS THAWED

Meanwhile, it seems that the relationship between the two men has thawed on both sides following reports that Musk could potentially play an advisory role to Trump.

In May, the reported that a possible advisory role was being discussed between the pair if Trump reenters the White House.

"The role hasn’t been fully hammered out and might not happen, people familiar with the talks said," according to the outlet.

"But the two men discussed ways to give Musk formal input and influence over policies related to border security and the economy."

Meanwhile, at a rally in Michigan last week, Trump praised the 53-year-old as he offered to "make life good" for him.

"I love Elon Musk," the former president .

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"Elon endorsed me recently, the other day actually. He's great."

Trump added that Musk is "a very advanced person" and that "we have to make life good for our smart people."

Trump's main policy points

DONALD Trump closed the Republican National Convention on July 18, telling supporters he wanted to become president for "all Americans.

  • Implementing tax cuts, including no tax on tips
  • Protecting Social Security and Medicare - Trump said 'incomes will skyrocket and the middle class will prosper like never before'
  • Protecting borders - He pledged to end the 'border nightmare.' That means two things on day one - 'Drill baby Drill,' as he said, and close the borders
  • Finishing building the wall
  • Keeping our 'sons and daughters safe'
  • Replenishing the military and building a military 'dome' - Trump insisted he could stop wars with just a phone call and said no military would be able to penetrate the USA if he came into office
  • Ending the war in Ukraine and imposing tariffs on Iran
  • Vowing to "beat" China
  • Working to decrease prices and ease inflation
  • Bringing down the cost of energy
  • Making cities 'safe, clean and beautiful' again
  • Making it possible for Americans to buy gas-run cars by ending the electric vehicle mandate on the first day of his presidency
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