Tech billionaire Elon Musk has reportedly dropped his plans to create a new political party, the “America Party,” to avoid hurting the Republican Party and to maintain a close relationship with Vice President JD Vance.
According to The Wall Street Journal, Musk’s decision comes after he concluded that a new party could siphon votes from Republicans, potentially harming their electoral chances. The move is a relief for the GOP, as Musk had previously threatened to target key Republican lawmakers in the 2026 midterm elections. Musk is now considering financially supporting Vance if he runs for president in 2028.
Musk’s initial idea for a new party stemmed from a public feud with President Donald Trump over a massive spending bill that Musk believed undermined his efforts to reduce government spending. The public polling of X users about the new party was not well-received by Tesla shareholders, causing the company’s stock to drop by more than 20%.
While Musk has stepped back from his political party aspirations for now, those close to him haven’t completely ruled out the possibility of him reviving the idea closer to the 2026 midterms.
August 2025, Cryptoniteuae
