In a ranging interview with Jordan Peterson on X, Elon Musk denied he was giving US$45 million a month to a new political action committee (PAC) that supports former president Donald Trump.

The Tesla CEO, who has endorsed Trump’s run for a second term as president told Peterson he was organizing funds for the America PAC.

The New York Post reported on Wednesday, “While past reports, citing sources, have said the billionaire will fork over the whopping sum to the America PAC, Musk shot down the assertion.”

“What’s been reported in the media is simply not true,” Musk told Peterson. “I am not donating $45 million a month to Trump.”

Musk said he was giving some money to the PAC in a tweet Tuesday night.

“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 & individual freedom,” wrote Musk. “Republicans are mostly, but not entirely, on the side of merit & freedom.”

The PAC can raise an unlimited amount of money for independent expenditures to help a campaign, but the money is not funnelled directly to the campaign.

The Post says, “Such political groups are regularly used by both Republicans and Democrats.”

Musk acknowledged he helped create the PAC.

“It’s not meant to be a sort of hyper-partisan PAC,” he said. “It’s actually the core principles of this America PAC are, the intent is to promote the principles that made America great in the first place.”

“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.”

America PAC was established in May in Austin, TX, where Tesla’s headquarters is located and is focused on rallying support for Trump in swing states to counter Democrats’ efforts in those crucial areas, per the Wall Street Journal.

The New York Times reported on Tuesday, “The PAC has spent $21 million on independent expenditures mostly focussed on voter turnout.”

Musk said he doesn’t think the Republican Party is flawless and doesn’t subscribe “to a cult of personality” in his interview with Peterson.

Mentioning the attempted assassination on Trump, he commended the former president for displaying “true courage” at the Pennsylvania rally on July 13 and added the “Republicans are the better choice over Democrats this November.”

“I think we need a change in administration,” Musk said.

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