Tech billionaire Elon Musk has said he plans to donate approximately $45m each month to a new super political-action committee (Super PAC) supporting Donald Trump‘s election bid, according to a United States media report.

Musk’s donations will go to a group dubbed America PAC, which will focus on supporting Trump by promoting voter registration, early voting and mail-in ballots among residents in swing states ahead of the November general election, the Wall Street Journal reports, citing people familiar with the matter.

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Musk formally endorsed Trump’s candidacy for US president on Saturday after the former president survived a shooting at a political rally in Pennsylvania.

“I fully endorse President Trump and hope for his rapid recovery,” Musk wrote on the social media platform X, which he acquired in 2022 when it was known as Twitter.

According to the report, Musk plans to start donating next month.

Musk, the wealthiest man in the world with an estimated net worth of $250bn, has grown increasingly friendly with Trump over the course of the 2024 US election.

In March, the two met in person during a donor breakfast hosted at the Florida residence of billionaire Nelson Peltz.

Though individual campaign donations in the US are capped at $3,300 per person, loopholes in the US campaign finance system allow political mega-donors to contribute to funds known as political action committees, better known as “PACs,” which support candidates.

America PAC has hired hundreds of employees for its efforts to get Trump elected, and has been registering voters, having conversations with constituents in swing states and urging voters to request mail-in ballots, some of the people familiar with the matter said.

Trump previously decried mail and absentee voting, but has backtracked on his criticisms after it became clear Democrats had an edge among mail-in voters.