Elon Musk pulls back on America Party plans, claims report; Tesla CEO fires back

A Wall Street Journal (WSJ) report recently said that Elon Musk is quietly “pumping the brakes” on his plans to launch a new political party. The tech billionaire announced ‘

America Party

’ in July after a fallout with President Donald Trump on the spending bill and tax cuts. Elon Musk, as per the report, has stayed in touch with Vice President

JD Vance

in recent weeks. Quoting people with knowledge of his plans, it adds that the

Tesla CEO

has “acknowledged to associates that if he goes ahead with forming a political party, he would damage his relationship with the vice president”.

Elon Musk responds

Responding to the WSJ report, Elon Musk wrote on X (formerly known as Twitter): “Nothing @WSJ says should ever be thought of as true”.

Elon Musk to back JD Vance in 2028 Presidential elections: Report

In the 2024 presidential election, Elon Musk supported Republican candidate Donald Trump. He spent close to $300 million to support Trump and other Republicans in the 2024 election. Soon after his win, Musk and Trump became strong allies with the tech billionaire leading the Department of Government Efficiency (DOGE) – task force set up by the Trump administration to cut federal spending. The WSJ report states that the tech CEO hasn’t “formally ruled out creating a new party and could change his mind as the midterm elections near”. It further adds that Elon Musk plans to use “some of his vast financial resources to back Vance if he decides to run for president in 2028”. As per the report, any decision by Elon Musk to abandon plans of launching a third party would work in favor of Republicans ahead of next year’s midterm elections. Third parties in the US have historically played the role of spoilers by pulling votes away from the two dominant parties.