Billionaire Elon Musk is pushing back on reports that he promised to give President Trump’s re-election effort $45 million a month until the presidential election.

Following the selection of Senator Vance as Trump’s running mate, the Wall Street Journal reported that Mr. Musk would be giving $45 million a month to help elect Trump.

However, in an interview with a former professor turned conservative commentator, Jordan Peterson, Mr. Musk said he would be giving to Trump’s efforts “at a much lower level.”

“What’s been reported in the media is simply not true,” Mr. Musk said. Mr. Musk added in a tweet that “it’s ridiculous.”

“I am making some donations to America PAC, but at a much lower level and the key values of the PAC are supporting a meritocracy and individual freedom,” Mr. Musk said. “Republicans are mostly, but not entirely, on the side of merit & freedom.”

Mr. Musk had previously said that he intended to stay out of the 2024 election, though after the attempt on Trump’s life, Mr. Musk went all-in on the former president saying in a tweet that “I fully endorse President Trump and hope for his rapid recovery.”

It’s not clear whether Mr. Musk ever intended to give $45 million a month to Trump’s efforts. However, Trump did rail against electric cars during his more than 90 minute Republican National Convention speech, an industry Mr. Musk is heavily invested in.