Musk clarified that the reports were simply not true.

Led by Jon Lonsdale, a Palantir co-founder and political confidant to Musk, America PAC has garnered support from major private equity and venture capitalist backers. Notable donors include the billionaire Winklevoss twins, Sequoia Capital partners, and Ken Howery, a former ambassador to Sweden and co-founder of PayPal.

Contrary to speculation, Musk emphasized that America PAC is not designed to be a hyperpartisan organization. While his principles currently align with the idea of "Make America Greater," Musk made it clear that he is not a part of Donald Trump's campaign slogan, "Make America Great Again" (MAGA).

Addressing the notion of his relationship with Trump, Musk stated that he does not subscribe to a cult of personality and believes the U.S. needs a change of administration. The entrepreneur, known for his ambition to reach Mars, has often been compared to tech visionary Steve Jobs for his success and influence in multiple industries.

During a recent rally, President Trump expressed his admiration for Musk, proclaiming, "I love Elon Musk" and acknowledging the need to support intelligent individuals. However, Trump mentioned that Musk had not discussed the reported donations or questioned the president's stance on electric cars.

Musk also discussed his recent assertion to "destroy the woke mind virus," revealing that it was driven by his daughter's experience with gender-affirming care and transition during the pandemic. He controversially described gender-reassignment surgery as "child mutilation and sterilization."

In addition to his statements, Musk confirmed that SpaceX and X, ventures closely associated with Tesla, would be relocating to Texas from California. The move comes after California's approval of the SAFETY Act, prompting Musk to seek new opportunities elsewhere.

While Musk denies the reported donations and expresses his commitment to change, his comments continue to impact Tesla stock as investors closely follow his words and actions. It remains to be seen how this will influence his ongoing business ventures and influence within the political sphere.