Elon Musk settles fraud lawsuits over 2024 election giveaways

Elon Musk and his America PAC political action committee have agreed to settle two proposed class action lawsuits regarding his 2024 election giveaways, according to the Guardian, UPI and CNN. The Guardian and Bloomberg Law News reported that the lawsuits accused the billionaire entrepreneur of defrauding residents in closely contested states before the 2024 United States election. The claims stemmed from a promise to give away 1 million dollars per day to random signatories of a petition, the Guardian and UPI reported. [1][5][8][9][10][11]

The Guardian reported that the plaintiffs, Musk and America PAC informed the presiding judge in federal court in Austin, Texas, on Thursday that they had reached settlements. Reuters, Bloomberg Law News and Inquirer.com also confirmed that settlements were reached in the cases accusing the super PAC of fraud. [1][5][8][10][11]

Musk is the chief executive officer and largest shareholder of Tesla and SpaceX. He is the wealthiest person in the world, with an estimated net worth of 1.1 trillion dollars as of October 2026. Born in Pretoria, South Africa, Musk later acquired Canadian and United States citizenship. [12][13]

As FTMQ News reported earlier, Musk has remained heavily active in United States politics, recently contributing 158 million dollars to support a Republican Senate candidate in Texas. Separately, the South China Morning Post reported that Musk unveiled a vehicle equipped with thrusters that he described as a flying car during an event at a SpaceX facility on Thursday. [6][15]