(The Center Square) – Billionaire businessman Elon Musk said Wednesday that he won’t donate to anyone seeking the U.S. presidency in 2024.

The Tesla and SpaceX owner’s announcement came after a meeting with former President Donald Trump on Sunday.

“Just to be super clear, I am not donating money to either candidate for US President,” Musk wrote on X.

The meeting at Trump’s Mar-a-Lago golf club in Palm Beach, Florida, led to speculation that Musk could bankroll Trump as he faces four criminal trials and multiple civil lawsuits.

Trump has lost a series of civil lawsuits and faces millions in judgments as he appeals and seeks a second term in the White House.

Trump must pay $454 million to comply with the verdict in one civil fraud trial, a New York appeals court judge ruled. Trump is appealing a ruling by Superior Court Judge Arthur Engoron in a civil fraud lawsuit brought by New York Attorney General Letitia James in 2022, accusing the judge of “errors of law and/or fact, abused its discretion, and/or acted in excess of its jurisdiction.” Engoron found that Trump, his company, and top executives, including his sons Donald Trump Jr and Eric Trump, deceived banks and insurers by inflating the value of his family’s wealth on financial statements used to secure loans. The judge ordered Trump to pay $355 million in penalties, which, with interest, has grown to nearly $454 million. That fine will increase by nearly $112,000 daily until he pays.

In January, a jury ordered Trump to pay $83.3 million in damages to an 80-year-old writer who accused him of ruining her reputation by denying he raped her in 1995 or 1996. The jury awarded $18.3 million in compensatory damages and $65 million in punitive damages. Trump is appealing that verdict but must put up money to do so.

Trump also faces 91 criminal counts in four separate indictments. He faces two state criminal trials and two federal trials.

Former U.N. ambassador and South Carolina Gov. Nikki Haley dropped out of the Republican presidential primary Wednesday morning, setting up a rematch between Trump, 77, and President Joe Biden, 81.

File – Tesla CEO Elon Musk attends the first plenary session of the AI Safety Summit at Bletchley Park, on Nov. 1, 2023 in Bletchley, England. The lawyers who successfully argued that a massive pay package for Tesla CEO Elon Musk was illegal and should be voided have asked the presiding judge to award them company stock worth $5.6 billion as legal fees. The attorneys, who represented Tesla shareholders in the case decided in January, made the request of the Delaware judge in court papers filed Friday, March 1, 2024. (Leon Neal/Pool Photo via AP, File)

Leon Neal