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                            [url] => https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39787013/will-elon-musks-endorsement-of-trump-impact-tesla-this-veteran-analyst-thinks-so-he
                            [title] => Will Elon Musk's Endorsement Of Trump Impact Tesla? This Veteran Analyst Thinks So, Here's Why - Tesla (NASDAQ:TSLA)
                            [body] => Elon Musk's recent endorsement of former President Donald Trump could have significant implications for Tesla Inc. TSLA, according to veteran tech analyst Gene Munster.

What Happened: Munster, a tech analyst at Deepwater Asset Management, believes that Musk's endorsement of Trump could potentially influence Tesla's future.

"This endorsement, while it was predictable and obvious, it does hold some weight if [Tesla] can get a favorable environment around the government," Munster said in an interview with CNBC's Last Call.

Munster emphasized that a favorable government environment could facilitate the deployment of more Full Self-Driving (FSD) vehicles, a key goal for Tesla. This, in turn, could positively impact Tesla's stock.

Trump's stance on Tesla has been a topic of discussion among investors. During his first administration, the government rolled back over 100 environmental policies, according to a report by The New York Times in 2021.

See Also: Kim Jong Un's Sister Warns South Korea 'Must Be Ready For Paying A Very High Price'Over Leafleting Campaign

Why It Matters: Musk's relationship with Trump has been a subject of interest. In March, Musk announced that he would not be financially supporting either Trump or current President Joe Biden after a reported private meeting with Trump.

However, in June, Musk revealed that Trump is a big supporter of electric vehicles, despite his public criticism of the industry. Musk also disclosed that Trump frequently calls him, although the reason for these calls remains unclear.

Following a shooting incident at a Trump rally on Saturday, Musk endorsed Trump and disclosed that he had faced similar threats in the past year.

Musk has reportedly committed to allocating $45 million per month to a new super political-action committee in support of former President Trump's potential 2024 presidential campaign. However, Musk responded to the WSJ report on X by sharing an image of a human-legged gnus with the text, "Fake Gnus," displayed on it.

Price Action: Tesla stock closed at $252.64, marking a gain of 1.78% on Monday. In premarket trading, the stock was up 1.24% at the time of writing. Year-to-date, Tesla has seen a rise of 1.70%, according to data from Benzinga Pro.

Read Next:

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Photos courtesy: Shutterstock

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

Market News and Data brought to you by Benzinga APIs
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                            [date] => 2024-07-16
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                            [url] => https://www.benzinga.com/news/24/07/39786401/tesla-shareholders-demand-higher-security-budget-for-elon-musk-after-billionaire-reveals-two-assassi
                            [title] => Tesla Shareholders Demand Higher Security Budget for Elon Musk After Billionaire Reveals Two Assassination Attempts, Compares Them To Attack On Trump - Tesla (NASDAQ:TSLA)
                            [body] => Certain Tesla Inc. TSLA shareholders are urging the company board to increase the security budget for its controversial CEO Elon Musk, board members, employees, and company sites after former President Donald Trump was shot at during a campaign rally on Saturday.

What Happened: Tesla shareholder Alexandra Merz has drafted a letter to Tesla's board of directors seeking an increase in security budget to protect the CEO, board members, Tesla employees, and company sites.

According to Merz's poll held on X, more than 3,000 people are in support of an increase in budget and Merz is now adding more signatories to her letter.

Tesla's Current Expenses For Musk's Security: According to a proxy statement filed by Tesla in April, the company entered into a service agreement with a Musk-owned security company to provide him with security services in December 2023.

"Tesla incurred expenses of approximately $2.4 million for such security services in 2023 and approximately $0.5 million through February 2024, representing a portion of the total cost of security services concerning Elon Musk," the filing read, hinting that Tesla is not the only player paying for the billionaire's security.

Musk Responds: Musk on Monday acknowledged the efforts of Tesla shareholders to increase his security budget and said, "Appreciate the thought."

Why It Matters: The move from Tesla shareholders stems from security concerns for its controversial CEO that have increased since Trump was shot at during a campaign rally in Pennsylvania on Saturday.

Following the shooting incident, Musk said on X that he faced a similar predicament on more than one occasion in the past year. Musk said that two people tried killing him in the past eight months on separate occasions. "They were arrested with guns about 20 mins drive from Tesla HQ in Texas."

Musk also referred to personal safety concerns during Tesla's annual shareholder meeting in June.

"I think I probably need to work out. And like, not get assassinated or something, you know. I mean, it is getting a little crazy these days," Musk said while adding that there are many "homicidal maniacs" out there.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

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                            [url] => https://www.benzinga.com/markets/equities/24/07/39786382/gm-delays-1m-ev-production-target-beyond-2025-market-isnt-developing-were-going-to-be-guided-by-
                            [title] => GM Delays 1M EV Production Target Beyond 2025: 'Market Isn't Developing...We're Going To Be Guided By The Customer,' Says CEO Mary Barra - General Motors (NYSE:GM)
                            [body] => But she predicts transformative growth for EVs over the next 10-12 years.

General Motors Corp. GM has followed in the footsteps of its crosstown rival Ford Motor Co. F and delayed its electric-vehicle production goals, comments from CEO Mary Barra in an interview revealed on Monday.

What Happened: "We will not get to a million just because the market is not developing," Barra said at a CNBC event. The legacy automaker has set a production goal of one million EVs by 2025, and in December CFO Paul Jacobson reiterated the goal at a Barclays conference.

Barra said GM is moving to an all-electric future and she considers it important that the vehicle is really a software platform. She noted that the EV industry is seeing a bit of a slowdown. That said, the top brass reiterated the company's commitment to EVs. "We'll get there and so we're going to be guided by the customer," she said.

The GM CEO also made a sales pitch to users regarding EVs. "But what I'd like to tell people is get in an electric vehicle and drive it. It's a lot of fun, it's instant torque, it opens up new design line," she said. As charging gets more robust and EVs become more affordable, the growth that will be seen in the next 10-12 years is going to be transformative in the way people move, she said.

See Also: Best EV Stocks

Why It's Important: GM is not alone in facing a setback to its EV plans. Ford for one said in early April that it had delayed the planned launches of three-row EVs in Canada and its next-generation electric pickup truck built in Tennessee, citing an industry-wide demand slowdown globally. Instead, it embraced hybrids. The company planned to boost hybrid EVs and set sights on offering hybrid powertrains across its line-up of ICE vehicles by 2030.

Earlier in July 2023, the company said it expects to hit the EV annual production goal of 600,000 units at some point in 2024 as opposed to earlier plans to achieve the milestone by the end of 2023. Ford CEO Jim Farley said that the 2023-second quarter earnings call price has served as a deterrent for EV adoption. Earlier this year, Farley said on another earnings call that the company had assembled a small team to develop an affordable EV.

The travails faced by the EV industry have come to haunt even established pureplay and established EV companies such as Tesla, Inc. TSLA, which has now reported its second straight quarterly sales drop.

In 2023, Tesla produced and manufactured 1.85 million and 1.81 million units, respectively. In comparison, Ford sold 72,608 EVs, including the F-150 Lightning pickup truck, E-transit and Mustang Mach-E vehicles, and GM 75,585 units.

GM settled Monday's session up 0.59% at $49.30, according to Benzinga Pro data.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

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Tesla Q2 EPS Estimate Bumped Up, Rivian's Cold Shoulder To Union, Lucid's 70% Sales Jump And More: Biggest EV Stories Of The Week

Image Via Shutterstock

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                            [date] => 2024-07-16
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                            [url] => https://www.benzinga.com/news/24/07/39785823/elon-musk-confirms-delay-in-tesla-robotaxi-unveil-due-to-important-design-change-but-stays-mum-on-ne
                            [title] => Elon Musk Confirms Delay In Tesla Robotaxi Unveil Due To 'Important Design Change,' But Stays Mum On New Timeline - Tesla (NASDAQ:TSLA)
                            [body] => Tesla Inc TSLA CEO Elon Musk on Monday confirmed that its robotaxi unveiling event has been delayed to deploy some design changes to the vehicle.

What Happened: "Requested what I think is an important design change to the front, and extra time allows us to show off a few other things," Musk said about delaying the robotaxi unveiling event initially scheduled for Aug. 8. The CEO, however, did not provide fresh dates for the event.

Musk's confirmation comes on the heels of a media report from last week that said that the company has delayed its robotaxi unveiling event, initially scheduled for Aug. 8, by two months to October. The postponement of dates is to allow teams working on the project to build more prototypes, Bloomberg reported, citing people familiar with the matter.

Neither Tesla nor Musk had confirmed the report until now.

Why It Matters: While other players like Waymo, Cruise, and Zoox have all revealed driverless robotaxi designs with no steering wheels, Tesla would be the first with sufficient manufacturing capability to produce the design at scale, according to Ark Invest's Brett Winton. Unlike many investors who were disappointed at the delay, Winton is positive about the delay, which he deems is about the company taking the time to get it right.

Winton thinks that Tesla likely delayed the event to ensure that the new vehicle design is close to the one that the company will eventually produce at scale, while also aligning it with its progress on the full self-driving (FSD) driver assistance software. Tesla is currently ramping up the capabilities of FSD toward vehicle autonomy. The two-month delay might be to align FSD milestones with the robotaxi unveiling event, he opined.

"In our view, its robotaxi service could be one of the most profound business transformations in history, moving Tesla from the one-time sale of vehicles to a recurring revenue model involving platform fees for every commercial mile," Winton wrote in Ark's weekly newsletter published earlier this week.

Price Action: Tesla shares closed up 1.8% at $252.64 on Monday and rose 0.9% after hours. The stock is up 1.7% year-to-date, according to data from Benzinga Pro.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

Read More:

Elon Musk Says SpaceX Making 'Important' Design Changes To Starship Ahead Of Its Fifth Test Flight

Image generated using Midjourney

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                            [url] => https://markets.businessinsider.com/news/stocks/tesla-tsla-gets-a-buy-from-cantor-fitzgerald-1033556938
                            [title] => Tesla (TSLA) Gets a Buy from Cantor Fitzgerald
                            [body] => Sheppard covers the Consumer Cyclical sector, focusing on stocks such as Tesla, Rivian Automotive, and Innoviz Technologies. According to TipRanks, Sheppard has an average return of -15.8% and a 36.84% success rate on recommended stocks.

In addition to Cantor Fitzgerald, Tesla also received a Buy from Morgan Stanley's Adam Jonas in a report issued on July 11. However, yesterday, Wells Fargo maintained a Sell rating on Tesla (NASDAQ: TSLA).

TSLA market cap is currently $791.7B and has a P/E ratio of 63.43.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Tesla, Inc. manufactures and sells fully electric vehicles, solar energy generation systems and energy storage products. It also operates a network of vehicle service centers and Supercharger stations. The company operates through two segments: Automotive and Energy Generation & Storage. Founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003, the company is headquartered in Palo Alto, CA.
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                            [url] => https://www.benzinga.com/markets/equities/24/07/39785281/nvidia-ceo-jensen-huang-and-metas-mark-zuckerberg-set-to-discuss-future-of-ai-and-simulation-at-
                            [title] => Nvidia CEO Jensen Huang And Meta's Mark Zuckerberg Set To Discuss Future Of AI And Simulation At SIGGRAPH 2024 - Meta Platforms (NASDAQ:META), NVIDIA (NASDAQ:NVDA)
                            [body] => The future of AI, simulation, and the role of research in the graphics and technology intersection will be the focus of a public fireside chat between NVIDIA Corp. NVDA founder and CEO Jensen Huang and Meta Platforms Inc META founder and CEO Mark Zuckerberg at the upcoming SIGGRAPH 2024 conference.

What Happened: The two tech leaders will be discussing the future of AI and simulation at the SIGGRAPH graphics conference in Denver on Jul. 29, according to an Nvidia blog post. The conference is scheduled for Jul. 28 to Aug. 1, and will also feature a fireside chat on AI and graphics for the new computing revolution.

The conference will highlight SIGGRAPH's ongoing role in technological innovation, with nearly 100 exhibitors showcasing the future of graphics.

The SIGGRAPH Innovation Zone will feature startups at the forefront of computing and graphics, offering insights into the technological horizon from industry leaders like Huang.

ACM SIGGRAPH hosts SIGGRAPH 2024, the premier global conference for computer graphics and interactive techniques. For over 50 years, it has led in identifying industry trends. The 51st annual event focuses on innovation in real-time graphics, art, and systems, enhancing human interactions and spectator experiences.

See Also: Apple, Nvidia, Palantir, MicroStrategy And Shiba Inu's Ambitious Trillion-Dollar Vision: Benzinga Bulls And Bears

Why It Matters: The upcoming fireside chat between Huang and Zuckerberg is a continuation of their public interactions. In April, Zuckerberg revealed the "secret ingredient" behind his close relationship with Huang, which revolves around a shared love for cheesesteaks. The two tech leaders, who are both at the helm of trillion-dollar companies, often bond over food.

Earlier in the year, Zuckerberg swapped jackets with Huang, sparking a social media frenzy. The SIGGRAPH conference will provide a platform for the two leaders to delve into the future of graphics and technology, a topic that has been at the forefront of their public interactions.

Despite the ongoing discussions about the future of technology, a recent Benzinga reader survey revealed that readers most want to work for Tesla Inc. CEO Elon Musk over Zuckerberg, Apple Inc. CEO Tim Cook, Huang, and Amazon.com founder Jeff Bezos. This indicates that while the tech industry is keen on the future of technology, the appeal of working with specific tech leaders varies.

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Image Via Flickr

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

Market News and Data brought to you by Benzinga APIs
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                            [url] => https://www.yahoo.com/news/asia-sees-cautious-open-us-002706107.html
                            [title] => Asia Sees Cautious Open; US Stocks Buoyed by Trump: Markets Wrap
                            [body] => (Bloomberg) -- Stocks in Asia were muted in early Tuesday trading, following gains on Wall Street fueled by optimism surrounding a second Donald Trump term as the former US president chose his running mate.

Most Read from Bloomberg

Equity benchmarks rose in Japan and Korea, while those in Australia were steady. Futures for Hong Kong stocks pointed to a decline. US futures edged higher in early Tuesday trading after benchmarks there climbed and traders priced a greater chance of a Trump win after he survived an assassination attempt.

Caution in Asia comes amid signs of emerging market volatility in anticipation that Trump's tariff threats will be implemented. A gauge of such currencies snapped eight straight days of gains on Monday, with those in South Africa and Mexico -- both seen as bellwethers of risk appetite -- leading the losses. The dollar was little changed.

Within the regions, investors have been allocating based on which countries will be seen as friends or foes, given the Presidency will be more based on bilateral political and trade ties over multilateral policy, said Kyle Rodda, a senior analyst at Capital.com in Melbourne.

"His view of the world is fairly zero sum" with Japan seen on friendly terms and China in the "bad books," he said in a phone interview. "There's definately still that figurative pairs trade going on at the moment, which is long Japan and short China."

In the US, the Dow Jones Industrial Average hit an all-time high as Trump named JD Vance as his running mate. Trump Media & Technology Group Corp. soared 31%. Conservative video-sharing platform Rumble Inc. jumped 21%. Trump's rising odds of victory boosted oil producers, gun makers and private prisons. His pro-cryptocurrency stance lifted the industry. Tesla Inc. rallied as Elon Musk endorsed Trump. Solar firms sank as Democrats are seen as more friendly toward the sector.

Vance is 39, nearly four decades younger than Trump, 78, offering a fresh voice to Republican efforts to bolster their appeal to the working-class workers who were once a bedrock of the Democratic party in battlegrounds such as Michigan, Wisconsin and Pennsylvania.

"The decision is crucial because one-third of US presidents throughout American history have previously occupied the position of vice president," said Tom McLoughlin at UBS Global Wealth Management. "Moreover, in this instance, Trump's decision effectively anoints Vance as his successor in terms of delivering a populist message to a younger generation of voters."

The S&P 500 topped 5,630. Apple Inc. hit a fresh high. The Russell 2000 of smaller firms added almost 2%, notching the best four-day run since 2020. Goldman Sachs Group Inc. climbed on a surge in profits. Macy's Inc. sank after ending buyout talks.

US 30-year yields were above the two-year one for the first time since January as traders priced the prospect of a more expansive fiscal policy under Trump. Australian bonds climbed in early trading.

Federal Reserve Chair Jerome Powell said in an interview that second-quarter economic data has provided policymakers greater confidence that inflation is heading down to the central bank's 2% goal, possibly paving the way for near-term interest-rate cuts. He made clear he didn't intend to send any specific message about the timing of rate reductions.

Meanwhile, the chances of Trump winning a second term rose in the aftermath of Saturday's shooting, according to PredictIt data.

"We were shocked by the attempt on former President Trump's life, but suspect that markets will digest the news quickly and with little fanfare," said John Stoltzfus at Oppenheimer Asset Management. "Shocking events tend not to deter investors, who we expect will remain focused on economic and earnings results."

To Mark McCormick at TD Securities, markets seem "less fussed about elections" and much keener to enjoy the slide in US data surprises, especially the latest consumer-price index reading.

"Everyone is passing around their favorite Trump trades -- but I think we've seen over the past century that stock market moves are more random than what a president can dictate," said Peter Boockvar at The Boock Report.

This story was produced with the assistance of Bloomberg Automation.
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                            [url] => https://www.marketwatch.com/story/new-pro-trump-super-pac-reportedly-has-elon-musks-support-after-raising-millions-in-q2-82069674
                            [title] => New pro-Trump super PAC reportedly has Elon Musk's support after raising millions in Q2
                            [body] => A new super PAC supporting Donald Trump's presidential run has the backing of a number of tech and finance figures, and multiple reports contend that Elon Musk will soon join them.

The New York Times, Bloomberg News and the Wall Street Journal reported Monday night that the America PAC will soon receive an influx of funds from Musk, the CEO of Tesla Inc. TSLA, +1.78% and the world's wealthiest individual.

The group was only formed in May, and a Monday filing with the Federal Election Commission showed it raised $8.75 million in the second quarter and disbursed $7.78 million of that total.

Also read: Trump officially secures Republican presidential nomination for third straight time

According to the media reports, the America PAC received financial backing from Joe Lonsdale, co-founder of Palantir Technologies Inc. PLTR, +2.14%, and crypto entrepreneurs Cameron Winklevoss and Tyler Winklevoss. Other backers reportedly include Antonio Gracias, founder of Valor Equity Partners and a board member of SpaceX; Kelly Craft, the former U.S. ambassador to Canada, and her husband, Joe Craft, the CEO of coal producer Alliance Resource Partners ARLP, -0.04% ; and Douglas Leone, former managing partner of Sequoia Capital.

Also see: Trump picks J.D. Vance as his running mate, adding venture-capital experience to GOP ticket

The Journal reported that Musk has plans to commit $45 million a month to the super PAC. The Times and Bloomberg also reported that Musk was expected to donate, but he had not as of June 30.

Musk has a fortune worth about $267 billion, according to the Bloomberg Billionaires Index.

Musk said earlier this year that he was not donating money to either presidential candidate, but on Saturday he endorsed Trump shortly after the former president was injured in an assassination attempt.

Requests for comment to Musk at his companies, Tesla, X and SpaceX, were not immediately returned.

The Journal reported that the America PAC is focused on "get-out-the-vote" efforts, and the Times reported it has spent about $15 million on behalf of Trump in recent weeks.
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                            [date] => 2024-07-16
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                            [url] => https://www.benzinga.com/markets/equities/24/07/39785073/trump-media-technology-group-coinbase-marathon-digital-apple-tesla-why-these-5-stocks-are-on-inv
                            [title] => DJT, COIN, MARA, AAPL, TSLA: Top 5 Trending Stocks Today - Apple (NASDAQ:AAPL)
                            [body] => At the close of trading on Monday, U.S. stocks were in positive territory. The Dow Jones Industrial Average gained 0.5%, reaching 40,211.72. The S&P 500 increased by 0.3% to 5,631.22, and the Nasdaq climbed 0.4% to 18,472.57.

These are the top stocks that gained the attention of retail traders and investors throughout the day:

Trump Media & Technology Group Corp DJT

The stock closed the day with a significant increase of 31.37% at $40.58, hitting an intraday high of $46.27 and a low of $38.06. The 52-week range for the stock is $79.38 to $22.55. Trump Media shares pulled back in the after-hours session after came after the company, associated with former President Donald Trump, filed a prospectus for the resale of nearly 38 million shares of common stock.

Coinbase Global Inc COIN

Coinbase's stock rose by 11.39% to close at $242.85, with an intraday high of $247.5 and a low of $228. The 52-week high and low for the stock are $283.48 and $69.63 respectively. The rise in the stock's price was attributed to the surge in Bitcoin BTC/USD prices past the key $63,000 level.

See Also: Trump's Crypto Portfolio Takes A Hit, Robert Kiyosaki Bats For Bitcoin And More: Top Crypto Updates This Week

Marathon Digital Holdings Inc MARA

Marathon Digital's stock saw an 18.34% increase, closing at $24.58. The stock hit an intraday high of $24.98 and a low of $21.56. The 52-week range for the stock is $34.09 to $7.16. The stock's rise was in line with the surge in Bitcoin prices.

Apple Inc AAPL

Apple's shares increased by 1.67% to close at $234.4, with an intraday high of $237.23 and a low of $233.09. The 52-week high and low for the stock are $237.23 and $164.08 respectively. The increase in the stock's price was due to the company's record-breaking annual sales in India, nearing $8 billion.

Tesla Inc TSLA

Tesla's stock rose by 1.78% to close at $252.64, hitting an intraday high of $265.6 and a low of $251.73. The 52-week range for the stock is $299.29 to $138.8. Tesla CEO Elon Musk has reportedly committed to contributing $45 million per month to a new super PAC backing former President Trump's potential 2024 presidential campaign.

Photo by WHYFRAME on Shutterstock

Prepare for the day's trading with top premarket movers and news by Benzinga.

Read Next:

Nancy Pelosi Reportedly Urged To End Democratic Turmoil By Calling For Biden's Withdrawal From Presidential Election

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

Market News and Data brought to you by Benzinga APIs
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                            [url] => https://www.benzinga.com/news/24/07/39784950/elon-musk-to-pour-45m-monthly-in-pro-trump-super-pac-joined-by-palantirs-joe-lonsdale-winklevoss-twi
                            [title] => Elon Musk To Pour $45M Monthly In Pro-Trump Super PAC, Joined By Palantir's Joe Lonsdale, Winklevoss Twins And High-Profile Backers: Report - Palantir Technologies (NYSE:PLTR)
                            [body] => Elon Musk has reportedly pledged to allocate a staggering $45 million per month to a new super political-action committee supporting former President Donald Trump's potential 2024 presidential run.

What Happened: Musk, the CEO of Tesla Inc. TSLA, has expressed his intention to contribute a substantial sum to the America PAC, a newly formed pro-Trump PAC, reported The Wall Street Journal on Monday, citing people familiar with the matter.

The PAC, established in June, aims to register voters and encourage early voting and mail-in ballots in key swing states.

Backers of the America PAC include Joe Lonsdale, co-founder of Palantir Technologies PLTR, as well as the Winklevoss twins -- founders of the cryptocurrency and Bitcoin BTC/USD trading platform Gemini. The PAC is led by former U.S. ambassador to Canada Kelly Craft and her husband, Joe Craft, the CEO of coal producer Alliance Resource Partners, according to the report.

Representatives of Tesla, Palantir, Winklevoss brothers, and Donald Trump's campaign did not immediately respond to Benzinga's request for comment.

See Also: Elon Musk Says SpaceX Making 'Important' Design Changes To Starship Ahead Of Its Fifth Test Flight

Why It Matters: Musk's decision to support a pro-Trump PAC comes as a surprise, given his previous stance on political contributions. In March, Musk publicly announced that he would not be making any financial contributions to either the Republican or Democratic candidates in the 2024 U.S. presidential election.

However, in July, Musk reportedly made a significant donation to the America PAC, marking a significant shift in his approach to political funding. His latest commitment of $45 million per month further solidifies his support for Trump's potential presidential bid.

Despite his support for Trump's campaign, Musk has also previously revealed that Trump is a big supporter of electric vehicles, despite his public criticism of the industry.

Moreover, Musk's recent financial commitment follows a tragic incident at a Trump rally in Butler, Pennsylvania, where a shooting resulted in two fatalities. Musk publicly backed Trump in the aftermath, expressing solidarity with the former president.

Read Next: Elon Musk Surprised To Learn Tesla Influencer Earns 50-100 Times More At YouTube Than At X: 'Wow, You Really Get So Much...'

Image Via Shutterstock

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

Market News and Data brought to you by Benzinga APIs
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