Elon Musk Declares No Financial Support for Biden or Trump Presidential Campaigns

By Quincy Cahilig

Mar 06, 2024 08:41 PM EST

Elon Musk announced Wednesday (Mar.6) that he would not donate to President Joe Biden or former President Donald Trump. 

The tech tycoon stated on X (formerly Twitter), "Just to be super clear, I am not donating money to either candidate for US President."

Musk-Trump Meeting Tracked

Elon Musk reportedly met with Donald Trump and other rich Republican contributors in Palm Beach, Florida, on Sunday, per VC Post. The former US president is actively seeking large funders for his bid to return to the White House. 

The Trump and Musk private planes, traced by "Elon Jet," arrived at West Palm Beach International Airport on March 3, according to public data. 

(Photo : BARTOSZ SIEDLIK/AFP via Getty Images)  X (formerly Twitter) CEO Elon Musk attends a symposium on "Antisemitism Online" during the European Jewish Association conference in Krakow, on January 22, 2024. 

Musk, recognized as one of the world's wealthiest individuals with an estimated net worth of $195 billion, has evenly distributed contributions between Democratic and Republican candidates over the years, with limited spending on presidential elections, as per a CNBC report.

In the 2018 midterm election cycle, the Tesla CEO made noteworthy contributions of $33,900 each to Republican and Democratic committees that backed congressional candidates. However, Elon Musk's recent declaration underscores his current stance to refrain from financially endorsing any major political figure in the United States.

Read Also: UK Scraps 'Non-Dom' Tax Status, Aims to Raise £2.7 Billion Annually 

Nikki Haley Drops Out from the US Presidential Race

Meanwhile, Nikki Haley bowed out of the presidential race on Wednesday after facing resounding defeats in Super Tuesday contests across the country, effectively conceding the 2024 Republican nomination to Donald Trump.

The Guardian reported that the former South Carolina governor, notable for being Trump's UN ambassador and the first prominent woman of color to seek the Republican presidential nomination, opted not to immediately endorse the former president, unlike most of his other Republican rivals. Instead, she challenged Donald Trump to earn the support of her voters, describing it as his "time for choosing."

In a speech in Charleston, South Carolina, Nikki Haley announced the end of her campaign, stating, "It is now up to Donald Trump to earn the votes of those in our party and beyond who did not support him, and I hope he does that."

Having triumphed over Haley in 14 out of 15 Republican primary elections, former president Trump is poised to secure enough delegates for his party's nomination for a third consecutive time despite facing legal challenges and civil court rulings.

Meanwhile, Joe Biden advanced past nominal challengers on his path to the Democratic nomination.

Haley's exit from the race effectively concludes the primary season earlier than in previous cycles, setting the stage for a Trump-Biden US presidential election rematch she sought to delay.

Related Article: OpenAI Shares Elon Musk Emails Exposing His Apparent Hypocrisy, Says He Urges the Startup to Raise More Money 

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