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Elon Musk applying brakes on plans to start third political party in US: Report

In July, President Trump ridiculed Elon Musk’s ‘America Party’ plan, while the Tesla CEO claimed it would restore ‘freedom’ to voters.

Musk launched his own political outfit the ‘America Party’ in July and touted it as the alternative to Democratic and the Republican party in the US. (Reuters)

Billionaire entrepreneur Elon Musk’s plans to launch a third political party in the United States might have hit the roadblock as he is quietly putting brakes to start the new outfit, telling his allies he wants to focus on his companies, the Wall Street Journal reported on Tuesday, citing people aware of the matter.

After a public dispute with US President Donald Trump over his ‘Big, Beautiful bill’ which focused on tax cuts and spending, Musk launched his own political outfit the ‘America Party’ in July and touted it as the alternative to Democratic and the Republican party in the US.

In July, President Trump ridiculed Elon Musk’s ‘America Party’ plan, while the Tesla CEO claimed it would restore ‘freedom’ to voters.

By a factor of 2 to 1, you want a new political party and you shall have it!

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. https://t.co/9K8AD04QQN

— Elon Musk (@elonmusk) July 5, 2025

The tech billionaire has sought to maintain his ties with Vice President JD Vance, who is a potential heir to Trump’s MAGA (Make America Great Again) political movement, WSJ reported, while adding that Musk even acknowledged to his associates that forming a political party would damage his relationship with Vance.

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The newspaper report states that Musk, who is the world’s richest person, and his associates have informed people considered close to Vice President Vance that the billionaire is considering using some of his financial resources to back Vance if the latter decides to run for the US presidential election in 2028.

The Tesla and SpaceX CEO spent close to $300 million in the presidential campaign of Donald Trump and other Republicans for the 2024 polls and exerted enormous influence in the first few weeks at the White House after Trump anointed him as the head of newly formed Department of Government Efficiency (DOGE).

Vance had earlier called for a truce after Musk and Trump were involved in a public spat over the ‘big, beautiful bill’ and the vice president cleared his position this month by asking Musk to return to the Republican fold.

(with inputs from Wall Street Journal)

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