Elon Musk's 'secretive network' engaged in 'highly unusual' moves to back Trump: NYT

Billionaire Elon Musk’s relocation from California to Texas was accompanied by his creation of a shadowy and complex network of companies he controls, making it difficult to follow the money as he continues to mix personal with professional expenditures.

According to a New York Times investigation, Musk's "secretive network" of more than 90 Texas-based companies enabled him to conceal the extent of his financial support for Donald Trump's 2024 presidential campaign. That support subsequently granted Musk a position in the Oval Office as a presidential adviser.

At least 37 of these companies serve Musk's personal needs, including property management, aircraft maintenance, and land acquisition. The Times notes that the distinction between personal and business expenditures remains deliberately ambiguous.

Musk employed private companies to finance his political activities in ways that circumvented standard disclosure requirements. The Times reported: "Tapping these companies to cover the expenses of a super PAC is highly unusual, campaign finance experts said, and ended up obscuring how money was being spent because they are not subject to the disclosure requirements of super PACs."

Musk primarily uses limited liability companies (LLCs), which provide both legal protection and reduced public accountability.

In 2024, Musk established two companies—United States of America Inc. and Group America LLC—and utilized Europa 100 LLC, an existing company previously used for personal expenses like nanny payments, along with his family office, Excession. Together, these entities provided nearly $80 million in services to America PAC, his political action committee supporting Trump's reelection. Rather than America PAC itself absorbing these costs, the companies took responsibility for expenses, a practice campaign finance experts characterized as highly irregular.

Brendan Fischer, director at Campaign Legal Center, confirmed the arrangement was legally permissible but effectively obscured the destination of tens of millions of dollars.

Europa 100 also compensated America PAC's treasurer, Chris Young, with a salary potentially reaching $1 million, according to campaign finance filings, though his specific role at the company remained unclear. Young also participated in a retirement plan through Excession.

You can read more here.