Elon Musk’s « America Party » is already dead

Billionaire Elon Musk is already giving up on creating his own political party, the Wall Street Journal reported.

The New York daily cites sources close to the X and Tesla boss to suggest that he is "quietly stepping on the brake regarding his plan to launch a political party".

The South African tycoon told his "allies" that he intended instead to concentrate on his businesses and wanted to avoid alienating influential Republicans by creating a third party that might siphon off the votes of Republican voters.

Despite his differences with US President Donald Trump, Musk has reportedly remained close to Vice President JD Vance, according to sources in the Wall Street Journal. Musk is said to have discussed supporting Vance's presidential campaign in 2028, should the latter decide to run.

Last month, the feud between the world's richest man and the world's most powerful man, once close allies, was at its height. One of the main points of contention was Musk's criticism of Trump's big budget bill, which he deemed too costly.

At the time, Trump said that the Commission on Government Efficiency (DOGE), which Musk headed before leaving the government at the end of May, could take a look at government subsidies to Musk's companies.

In response, Musk announced the informal launch of his party, although he had not yet registered it with the Federal Election Commission.

Since then, their public feud seems to have subsided. At the end of July, Trump declared on Truth Social that he wanted Musk's companies to prosper like never before. The Republican president even denied that he had considered withdrawing government subsidies from Musk.