Elon Musk is quietly putting aside his plans to launch a new political party, according to a Wall Street Journal report citing people familiar with the matter. The billionaire, who had floated the idea of forming what he called the “America Party” earlier this summer, is now telling allies he wants to focus on his companies and avoid alienating powerful Republicans.
Musk had initially said in July that the America Party would compete in House and Senate elections next year, appealing to voters frustrated with both Democrats and Republicans. But in recent weeks, he has indicated to associates that creating a third party could harm his ties with Vice President JD Vance, a rising figure in the Republican Party and widely seen as a possible future presidential contender.
Musk has kept in touch with Vance in recent weeks and admitted to associates that forming a party could damage that relationship. Some people close to Musk told the Journal that he is considering channeling some of his wealth into backing Vance if the vice president runs for president in 2028. In 2024, Musk spent nearly $300 million supporting Donald Trump and other Republicans, largely through his political-action committee, America PAC.
For now, Musk has not formally ruled out the America Party, but signs point to a slowdown. His team has not engaged with prominent supporters or organisations that could help set up a third-party structure. A late-July call with a group specialising in ballot access was canceled, with participants told Musk wanted to concentrate on his businesses. Neither Musk nor his spokeswoman responded to requests for comment.
Any decision by Musk to pull back would be welcome news for Republicans ahead of the midterms. Third parties often act as spoilers, siphoning votes from the two main parties. For Vance, maintaining Musk’s support could be pivotal for his political future. In a recent interview with the conservative website Gateway Pundit, Vance said, “So my hope is that by the time of the midterms, he’s kind of come back into the fold.”
Musk’s relationship with Trump has been rocky. Earlier this year, Musk accused Trump of owing his presidency to Musk’s support and criticised a sweeping tax-and-spending bill the former president championed. At the time, Musk even threatened to support primary challenges against Republicans who voted for the legislation.
But there are signs of a truce. The two men have stopped sparring online, and Musk has refrained from posting fresh criticisms of Trump. On Truth Social in late July, Trump wrote that he wants Musk and his companies to “thrive,” calling their success good for the country.
Trump had once suggested ending Musk’s federal contracts, but a review concluded that SpaceX’s work was vital for the Pentagon and NASA. More recently, Trump signed an executive order easing rocket launch permitting rules, which could directly benefit SpaceX.
Musk’s talk of a new party had also drawn interest from political figures such as Andrew Yang, who has long pushed for alternatives to the two-party system. Yang said he has spoken with Musk’s team about the idea but has shared no details.
Others, however, say they have heard nothing. Mark Cuban, the billionaire entrepreneur, endorsed Musk’s America Party after its announcement in July but told the Journal he has not been contacted by Musk or his aides. Even some of Musk’s political advisers from the 2024 election say they have not been asked about helping form a new party.
Republican campaign veterans note that Musk may find it difficult to hire the same GOP strategists who worked with him in 2024. Aligning with a new party could put those consultants at odds with Trump and his allies, damaging their political futures.
Meanwhile, the Libertarian Party has publicly courted Musk, urging him to merge efforts rather than start from scratch. The party argues it already has the experience and infrastructure to get candidates on state ballots. Still, its national chair Steven Nekhaila told the Journal: “It’s almost an eerie silence. It doesn’t seem like anything has been in action, neither at the state level or at the ground level.”
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