Elon Musk, the CEO of Tesla, announced on Wednesday that he has no intention of donating money to the campaigns of US President Joe Biden or Donald Trump.

Elon Musk, the CEO of Tesla, announced on Wednesday that he has no intention of donating money to the campaigns of President Joe Biden or former President Donald Trump.

"Just to be clear, I am not donating money to either candidate for US President," Musk stated in a post on his social media platform, X.

Musk's statement comes a day after The New York Times reported that the billionaire met with Trump and a small group of rich Republican contributors in Palm Beach, Florida, last weekend. The former president lives in Palm Beach at his Mar-a-Lago club.

The announcement also comes after Trump and Biden emerged victorious from Super Tuesday, moving closer to a November rematch.

Trump emerged victorious in 12 of the 13 states, gaining a huge backing of Republican delegates in California, Texas, North Carolina, and Virginia.

Unravelling Musk and Trump's sweet and sour bond

Despite their strained relationship, Trump has praised Musk on various occasions. The Times reported that Trump needed to "shore up his finances" for his run against President Joe Biden.

Trump's meeting with Musk in Florida was not a casual gathering. It was a deliberate attempt to acquire a large cash injection.

At present, the ex-US president faces additional financial burden as penalties imposed on him in the business fraud case and journalist and author E. Jean Carroll's defamation trial amount to hundreds of millions of dollars.

The sweet and sour relationship between Trump and Musk goes back to the time when the SpaceX CEO admitted that he voted for Biden in 2020 elections. As his declaration enraged Trump, the billionaire later accused the Biden administration of "treason" and "importing voters" ahead of the November elections.

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Taking to X, Musk wrote: "Treason indeed! Ushering in vast numbers of illegals is why Secretary Mayorkas was impeached by the House.

“They are importing voters. This is why groups on the far left fight so hard to stop voter ID requirements, under the absurd guise of protecting the right to vote.”

The X owner later added: "This administration is both importing voters and creating a national security threat from unvetted illegal immigrants.

"It is highly probable that the groundwork is being laid for something far worse than 9/11. Just a matter of time."

As Trump strives to reestablish his political supremacy, Musk's support may be critical, but it also highlights the campaign's shortcomings and obstacles.

A look at equation between Musk and Biden

Musk, who has criticised Democrats and their policies, cleared that he is not a fan of Biden.

Throughout 2022, Musk repeatedly accused Biden of neglecting his successful electric vehicle enterprise, Tesla, while supporting other automakers and their unions. He even appealed to voters to vote for a Republican.

"Shared power curbs the worst excesses of both parties, therefore I recommend voting for a Republican Congress, given that the Presidency is Democratic," he said in a tweet on November 7.