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Elon Musk has denied reports claiming that he was donating $45 million a month to a super PAC supporting former President Donald Trump in the run-up to the November election.

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In an interview with conservative commentator Jordan Peterson, Musk stated, "What's been reported in the media is simply not true. I am not donating $45 million a month to Trump."

His denial comes after the Wall Street Journal report suggested Musk was planning substantial monthly donations to America PAC. The PAC focuses on voter registration and early voting initiatives in swing states, aiming to counter the Democrats' get-out-the-vote campaigns.

Musk's actual contributions to the PAC

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Musk on X confirmed his support for America PAC, however, he clarified that his contributions were significantly lower than reported. 

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"I am making some donations to America PAC, but at a much lower level, and the key values of the PAC are supporting a meritocracy and individual freedom," Musk said, replying to a user post on social media platform X. 

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"Republicans are mostly, but not entirely, on the side of merit and freedom."

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Musk, as per Fox Business, emphasised that America PAC, which he helped create, would support Trump, but "is not supposed to be a sort of hyperpartisan."

"I wouldn't say that I'm, for example, MAGA, or Make America Great Again. I think America is great. I'm more M-A-G, Make America Greater," Musk told Peterson.

Didn't Musk say he's not donating to either Biden or Trump?

Yes, the Tesla CEO in March said he did not plan to contribute to either the Trump or Biden campaigns. 

However, this shift in his donation decision happens to align with Musk's recent endorsement of Trump following the assassination attempt at a campaign rally in Pennsylvania earlier this month. 

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"I fully endorse President Trump and hope for his rapid recovery," Musk wrote on X after the incident.

In his conversation with Peterson, Musk explained his alignment with Trump based on shared values of meritocracy and individual freedom and not the "cult of personality" around Trump".

He said he believes that Trump displayed "great courage" after the failed assassination attempt.

The billionaire has also shown support for the victims of the recent Trump campaign rally shooting. He donated $100,000 to a GoFundMe page authorised by Trump to assist the victims and their families. The shooting resulted in one rally attendee's death while protecting his family, and two other spectators were injured.

(With inputs from agencies)