X owner Elon Musk has committed to donating $45 million per month to a new super PAC supporting former President Donald Trump, according to a report by The Wall Street Journal — a report that he has since denied.

Per the article, the political action committee, named America PAC, is attracting significant backing from tech entrepreneurs and business leaders. The PAC's focus is on voter registration and encouraging early and mail-in voting in swing states, aiming to counter the Democratic Party's traditionally strong "get out the vote" efforts.

Other notable contributors include Palantir Technologies co-founder Joe Lonsdale, the Winklevoss twins, and former U.S. ambassador Kelly Craft along with her husband, Joe Craft, CEO of Alliance Resource Partners.

The New York Times reported that Lonsdale has been actively encouraging his network of influential entrepreneurs to support the group. Significant contributions have already been made, including $1 million each from Lonsdale's personal company, SpaceX board director Antonio Gracias, and early PayPal executive Ken Howery. Sequoia Capital investor Shaun Maguire has contributed $500,000.