Will Musk Bankroll Trump? Billionaire Holds Secret Summit With Cash-Strapped Ex-President
Donald Trump has reportedly discussed a potential "advisory role" for Elon Musk if he successfully reclaims the White House in November.
March 6 2024, Published 9:05 a.m. ET
A recent secret meeting between tech billionaire Elon Musk and former President Donald Trump in Palm Beach, Florida has fueled speculations about the Tesla CEO potentially funding Trump's cash-strapped presidential campaign, RadarOnline.com has learned.
Musk and Trump reportedly met for the secret summit on Sunday in Palm Beach along with a small group of other wealthy Republican donors in a bid to boost Trump's funding for his cash-strapped 2024 presidential campaign, according to a Wednesday report by the New York Times.
Musk and Trump reportedly met for the secret summit on Sunday in Palm Beach along with a small group of other wealthy Republican donors.
Trump's desperate and urgent need for a cash injection to support his presidential bid arises from mounting financial difficulties – most of which stem from the ongoing onslaught of civil and criminal legal issues against him.
The embattled ex-president currently faces a staggering debt of over $454 million because of court judgments in New York, while legal fees associated with several defamation trials have reportedly cost Trump approximately $50 million.
Musk – the world's second richest man with an estimated fortune of $200 billion – has recently become more politically vocal.
The Tesla and SpaceX billionaire recently criticized President Joe Biden's administration on various fronts – including President Biden's immigration policies and his handling of the ongoing crisis at the southern border.
The new administration role would reportedly be similar to the position previously held by Isaac Perlmutter, the former Marvel chairman and confidant to Peltz and Trump.
Musk recently expressed concerns about hundreds of thousands of unvetted migrants entering the U.S. and raised alarms about the potential security risks that come with such a policy.
“It is highly probable that the groundwork is being laid for something far worse than 9/11,” Musk tweeted on Tuesday. “Just a matter of time.”
Unlike other billionaire donors who have heavily contributed to political campaigns, Musk has so far strategically refrained from large donations – although it should be noted that he has supported both Republican and Democratic candidates in the past.
Recent events appeared to have shifted Musk's political alignment more towards the GOP.
The discussions took place during a secret summit at billionaire investor Nelson Peltz's oceanfront estate in Palm Beach, Florida in March.
Sources speculated that an alleged snub by the Biden Administration in 2021, along with Musk’s exclusion from a summit on electric vehicles, may have influenced the tech billionaire’s political leanings.
Meanwhile, Musk’s relationship with Trump has been characterized by “fluctuations” while the billionaire maintains a critical stance toward the Biden Administration.
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Despite previous turbulent exchanges, Musk has shown a willingness to reinstate Trump's suspended Twitter account after acquiring the social media platform in 2022.
Musk's political inclinations have evolved over time with his current alignment leaning more towards right-wing ideologies – a change that has become evident in Musk’s harsh criticisms of “woke” policies and his outspoken comments on immigration issues.
Musk has been hosting gatherings of powerful business leaders to deter them from supporting President Joe Biden's re-election campaign.
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As RadarOnline.com previously reported, Trump’s 2024 presidential campaign is desperate for money while President Biden’s 2024 re-election campaign continues to raise tens of millions of dollars ahead of the White House race in November.
According to a February report, Trump’s Save America super PAC only has $5 million left in the bank after the PAC spent a cool $50 million on the embattled ex-president’s legal fees for two defamation cases brought by accuser E. Jean Carroll.
Trump was most recently ordered to pay the state of New York a whopping $454 million following Judge Arthur Engoron’s civil fraud judgment.
It is currently unclear if Trump has the cash to pay the massive fraud judgment while also continuing to inject money into his 2024 presidential campaign.
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