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Her contribution to the campaign arm of House Democrats is a symbolic moment in the New York lawmaker’s own evolution inside the Democratic Party.

The more candidates in the race, the better for Donald J. Trump, supporters say. And in a tight presidential contest, a small share of voters could change the result.

How do you build a strong party when your money is also going to a candidate’s legal bills?

It’s not clear whether Mr. Musk will spend any of his billions on the former president’s behalf. If he does, he could erase Mr. Trump’s financial disadvantage in the 2024 race.

The former president is facing four criminal indictments and potential trials that could drive his legal bills even higher as he seeks to lock up the Republican presidential nomination.