Billionaire Elon Musk said Tuesday he will not, in fact, be giving $45 million a month to a pro-Trump super PAC, a major hit to the former president’s campaign coffers.

The Wall Street Journal first reported earlier his month that Musk planned to commit the mammoth monthly figure to see former President Donald Trump reinstalled in the White House. The donations, the Journal said, would flow through a new political action committee called America PAC that is focused on registering voters and driving support in swing states.

Musk told conservative commentator Jordan Peterson on Tuesday that those reports were “simply not true.”

“Yeah, it’s ridiculous,” he added on X, the social media site he owns. “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 & individual freedom. Republicans are mostly, but not entirely, on the side of merit & freedom.”

He went on to say the core principles of the America PAC were to promote the principles that “made America great in the first place.” He added he wasn’t “MAGA,” referring to “Trump’s Make American Great Again” mentality.

“I think America is great,” Musk said in his interview with Peterson, saying his PAC would not be “hyperpartisan.”

“I’m more ‘MAG:’ Make America Greater.”

Trump has already bragged about the reports of Musk’s now-moot donations, although he has continued his attacks on electric vehicles.

“Elon endorsed me the other day, and I read ― I didn’t even know this ― he didn’t even tell me about it, but he gives me $45 million a month,” Trump said at a rally in Michigan last week. “A month! Not 45 million — gives me 45 million a month!”

Musk could very well change his mind. Five months ago, he said he wasn’t giving anything to either candidate for president.