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Elon Musk slows push for third political party to focus on his companies: Report
Elon Musk is reportedly weighing the possibility of supporting US Vice President JD Vance financially if he runs for president in 2028
Tesla CEO Elon Musk is slowing down plans to launch a third political party and has told allies he wants to concentrate on his companies while avoiding conflicts with influential Republicans, The Wall Street Journal reported.
The report, citing sources, also said Elon Musk is weighing the possibility of supporting US vice president JD Vance financially if he runs for president in 2028, according to sources familiar with the matter.
In July, Elon Musk announced the formation of a new US political party, the America Party, intended to challenge the two-party system dominated by Republicans and Democrats.
He had made the announcement on his social media platform X, criticising both major parties for unchecked spending and corruption, and saying the US now operates more as a unified political machine driven by self-interest than as a democracy.
Born outside the US and therefore ineligible to run for president, Musk had not disclosed who would lead the new party. The move followed a public fallout between Musk and US President Donald Trump.
During the dispute, Musk posted a poll on X asking users whether there should be a new political party in the US. Referencing that poll in his post, Musk wrote: “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.”
During last year’s presidential election, candidates from the Libertarian Party, the Green Party, and the People’s Party were unable to prevent Donald Trump from winning.
Musk had previously been a prominent supporter of Trump, appearing at rallies and bringing his four-year-old son to meet the president in the Oval Office.
He was also a major financial backer, contributing $250 million to support Trump’s campaign. After the election, Musk was appointed to lead the Department of Government Efficiency (Doge), which focused on identifying ways to reduce federal spending.
His differences with Trump surfaced after he left the administration in May and publicly questioned the president’s tax and spending policies.
