Elon Musk’s Super Pac spent $200m to help elect Donald Trump

Billionaire provided vast majority of funds to America Pac in winning bid to return Trump to White House

Elon Musk's super political action committee (Pac) spent about $200m to help elect Donald Trump to a second presidency, according to a person familiar with the group's spending, funding an effort that set a new standard for how billionaires can influence elections.

The billionaire chief executive officer of Tesla and SpaceX provided the vast majority of the money to America Pac, which focused on low-propensity and first-time voters, according to the Associated Press source, who was not authorized to disclose the figure publicly and spoke on condition of anonymity. In turn, as CNBC reported, Musk's net worth jumped $70bn since Trump's victory in the 5 November election.