Tesla CEO Elon Musk asserted on Wednesday that he will not contribute funds to the presidential campaigns of either President Joe Biden or former President Donald Trump.

In a post on his social media platform X, Musk clarified his stance, stating: "Just to be super clear, I am not donating money to either candidate for US President."

Elon Musk ranked among the world's wealthiest individuals, with an estimated net worth of $195 billion according to Forbes, and holds the leadership position at both Tesla and SpaceX.

Despite opting out of direct campaign donations, Musk could potentially support Trump or Biden through alternative avenues, such as contributing to a political action committee (PAC) aligned with either candidate, CNBC reports.

Such a donation could wield considerable influence over the respective campaigns.

As of now, Musk has not responded to queries regarding potential contributions to pro-Biden or pro-Trump PACs.

Despite being vocal about political matters on social media, Musk is not a prominent or regular donor to political campaigns.

In the 2018 midterm election cycle, he made contributions to both Republican and Democratic committees, supporting congressional candidates with donations amounting to $33,900 each.

Donald Trump's Fundraising Efforts and Musk's Independent Stance

Reports reveal that former President Donald Trump, actively seeking financial support for his presidential campaign, convened with Elon Musk in Palm Beach, Florida.

The meeting included discussions with wealthy Republican donors, emphasizing Trump's pursuit of major contributors to bolster his campaign finances for the anticipated general election against President Joe Biden, according to The New York Times.

Trump has expressed admiration for Musk and aspires to engage in a one-on-one meeting with the billionaire.

Elon Musk, known for his independent-minded approach, has historically donated to candidates across party lines.

Unlike some other billionaire counterparts, he has not extensively funded presidential elections, maintaining a relatively balanced distribution of donations between Democrats and Republicans.

The federal government contracts and subsidies received by Musk's companies, Tesla and SpaceX, have added a layer of caution in aligning too closely with any specific political party.

Elon Musk's cautious stance in identifying with political parties was evident in 2017 when he distanced himself from two business advisory councils under President Trump's administration due to disagreements over climate policies.

The relationship between Musk and Trump has experienced moments of friction, including public exchanges of insults in 2022.

Joe Biden's Campaign Advantage and Musk's Ambiguous Political Affiliation

Presently, President Joe Biden's campaign maintains an advantageous position over Donald Trump's fundraising efforts, Business Insider noted.

Trump's reliance on political action committees to fund legal fees has added challenges to his financial endeavors.

Musk, a vocal critic of Biden despite expressing his 2020 vote for the president, has refrained from endorsing Trump directly.

In a statement last year, Musk clarified that while he would not vote for Biden, he did not explicitly express support for Trump.

With the suspension of Nikki Haley's campaign, both major parties have effectively chosen their nominees for the upcoming 2024 election.

Elon Musk, known for hosting discussions on Twitter, engaged with vaccine skeptic Robert F. Kennedy Jr. during a previous audio chat, showcasing his inclination towards diverse perspectives beyond mainstream political figures.

This article is owned by Latin Post.

Written by: Bert Hoover

WATCH: Elon Musk To Fund Donald Trump For US Presidential Elections? What Happened When They Met | Watch - From TIMES NOW