Elon Musk is pledging to pour US$45 million a month into a pro-Donald Trump political group, according to people familiar with the matter, a move that would flood the Republican nominee’s reelection effort with cash through the November election.
Bob Iaccino, co-founder and chief market strategist at Path Trading Partners, joins BNN Bloomberg to discuss potential scenarios for reflation on U.S. markets.
The Wall Street Journal first reported on Musk’s plans. In a reply to the WSJ story on X, Musk posted a meme with the words “FAKE GNUS.” Musk — who didn’t contribute until July, according to a person familiar with the matter — wasn’t listed in the report, which includes donations made between the PAC’s founding on May 22 and the end of June.
Biden’s disastrous performance in his June 27 debate with Trump, which plunged the Democratic Party into an internecine struggle between his supporters and those who would prefer a different standard bearer, accelerated the move to Trump.Though FEC disclosures don’t detail where the work is occurring, canvassing and get-out-the-vote efforts are conducted most intensively in key battleground states that will determine the outcome of the election.
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