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Elon Musk is stepping back from efforts to launch a third political party, choosing instead to concentrate on his business ventures and avoid antagonising influential Republicans, according to a Wall Street Journal (WSJ) report citing sources. Musk has been emphasising on maintaining relations with Vice President JD Vance, who is popularly viewed as a potential heir to the MAGA political movement. The Tesla CEO has been in contact with Vance in the last weeks as believes if he begins his new political party then it would hurt ties with Vance, WSJ reported.
Is Elon Musk pulling the plug on launching ‘America Party’? Report reveals…
Elon Musk is stepping back on efforts to launch his new political party, telling allies he wants to concentrate on his business ventures and avoid antagonising influential Republicans, according to a report by the Wall Street Journal (WSJ) published on Tuesday, citing sources.
Elon Musk has recently focused on maintaining ties with Vice President J D Vance, widely seen as a potential successor to Donald Trump's Make America Great Again (MAGA) movement.
The Tesla and SpaceX CEO has reportedly told his associates that launching a new political party could hurt his ties with Vance, WSJ reported.
Sources cited in the report say that Musk, the world's richest man, is considering using part of his considerable fortune to support Vance if the vice president decides to run for president in 2028.
During the 2024 election, Musk reportedly spent nearly $300 million supporting Donald Trump and other Republican candidates.
According to the report, while Musk has scaled back his political ambitions for now, his allies say he has not definitively abandoned the idea of a new party and may reconsider ahead of the 2026 midterm elections.
This comes after Musk announced his own “America Party” in early July, following Trump's signing of "big, beautiful" tax-cut and spending bill into law. Musk vehemently objected to the bill and engaged in lobbying efforts.
“Today, the America Party is formed to give you back your freedom. By a factor of 2 to 1, you want a new political party and you shall have it,” Musk said after it was passed.
He added, “When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom.”
The former Trump advisor and the Department of Government Efficiency (DOGE) chief even responded to a user's question on contesting the election.
When asked, “Midterms or 2028,” he said, “next year,” confirming that the America Party will start contesting elections in the 2026 midterm cycle, focusing on November 2026 for House and Senate races.
Source: LiveMint
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