Musk Reportedly Stops Push To Create New Political Party To Stay On Good Side Of Prominent Republicans

Billionaire Elon Musk is reportedly stopping his push to create a new political party to stay on the good side of prominent Republicans, especially Vice President JD Vance, who he plans to back in the 2028 election. Forming the "America Party," he said, would harm his relationship with the heir apparent of the MAGA movement.

The Wall Street Journal quoted people close to Musk, who claimed the billionaire told them that he would rather focus on his companies instead of pulling voters away from the GOP. However, he has not completely ended the project and will make a decision based on how the 2026 midterms go, the outlet added.

Musk addressed the report answering a post on his social media platform X, saying that "Nothing The Wall Street Journal says should ever be thought of as true."

Axios had already reported in late July that Musk had "read the room," not taking visible steps to create the party.

The outlet added that tensions between Musk and Trump have also faded, with the president posting in July that he wanted "Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before!"

Longtime Tesla analyst Dan Ives, on his end, said Musk has "read the room" and noted that shareholders "don't want him in politics."

"The Trump experiment gone bad with Musk was a significant dark time for Tesla shareholders," he added. Ives believes Musk will still spend money to back candidates but not as part of an effort to launch a third party.

Another development related to the party took place earlier that month, when conservatives criticized Musk over rumors that he might choose former Vice President Mike Pence to lead the party.