Elon Musk appears to be rethinking his political ambitions. Earlier this year, he floated the idea of launching a new “America Party” after a very public falling-out with Donald Trump, even accusing the former president of being “in the Epstein files.” At the time, it looked like Musk wanted to shake up U.S. politics by building something entirely new.
But according to recent reporting from The Wall Street Journal, he has since stepped back from that idea. Instead of moving ahead with a third party, Musk may throw his financial weight behind Vice President JD Vance in a future presidential run. This shift seems motivated by a desire not to alienate Republican allies he made during his brief involvement in Trump’s circle.
Musk had already donated close to $300 million to Trump’s campaign, but their alliance fractured when Musk blasted Trump’s tax and spending package as “a disgusting abomination.” JD Vance later stepped in, urging Musk to reconcile with Trump and avoid drifting away from the GOP. In Vance’s words, Musk would never be welcomed back by Democrats, so his best option was to return to the Republican fold.
The “America Party” concept, which made a splash in July, has since gone quiet. Even Steven Nekhaila, chair of the Libertarian National Committee, admitted that he hasn’t heard a thing since Musk’s announcement. For now, Musk seems to be focusing on his businesses instead—particularly after Tesla reported an 18% drop in shares following its worst quarterly sales in over a decade. He even warned that a few rough quarters might be ahead, especially as Trump’s administration winds down federal support for electric vehicles.
Publicly, Musk dismissed WSJ’s reporting with a post on X (formerly Twitter), writing: “Nothing The Wall Street Journal says should ever be thought of as true.” Whether that denial signals a total rejection of the story or simply frustration with speculation is still unclear.
What seems clear is that Musk’s vision of creating a brand-new political party is on hold—and his influence may instead be felt through the fortunes of JD Vance and the future direction of the Republican Party.
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