Elon Musk has rejected claims he promised to donate $45m monthly for Trump's campaign.
The recital comes despite creating a new super political action committee (PAC) to aid the Republican candidate.
In an interview hosted on his platform, X, Musk clarified that media reports about his financial commitment were inaccurate.
"What's been reported in the media is simply not true. I am not donating $45 million a month to Trump," Musk stated.
The Wall Street Journal first reported the $45 million figure, citing sources "familiar with the matter."
Musk did confirm the establishment of the America PAC, a super PAC designed to support Trump through independent expenditures like ads and operational costs.
Unlike traditional PACs, super PACs can raise unlimited funds but do not directly donate to campaigns.
Among the donors to America PAC are several tech industry leaders, including Ken Howery, Antonio Gracias, Sequoia Capital's Shuan Maguire, and the Winklevoss twins.
The PAC is also led by Joe Lonsdale, a venture capitalist and co-founder of Palantir, who is known to be close to Musk.
Musk emphasized that America PAC is intended to be nonpartisan and not aligned with the "MAGA" movement. He prefers the slogan "Make America Greater," reflecting his belief in core American values.
"I don't prescribe to [a] cult of personality," Musk said. He added that Trump demonstrated "great courage" after being shot by an attempted assassin on July 13, and that strength helps intimidate America's enemies.
Musk explaining why he no longer identifies with the Democratic party said that his values, such as meritocracy and minimal government intervention, are better represented by the Republican Party.
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