Washington, D.C. – Billionaire entrepreneur Elon Musk has reportedly put the brakes on his ambitious plans to create a new political party, a move that would have challenged the two-party system in the United States. According to sources with knowledge of his plans, Musk has told allies that he intends to focus on his core business ventures and is reluctant to alienate influential Republicans by forming a third party that could potentially siphon off voters.
Musk’s decision comes after he publicly announced the formation of the “America Party” on social media in July, citing dissatisfaction with the current political landscape. The announcement followed a public disagreement with President Donald Trump over a sweeping tax and spending bill. Musk had proposed a strategy to target a handful of key congressional races to give his new party “decisive leverage” in Washington.
The tech mogul and his associates have reportedly stayed in close contact with Vice President JD Vance in recent weeks. Sources indicate that Musk has acknowledged that forming his own party could damage his relationship with Vance, a key figure in the “Make America Great Again” (MAGA) movement and a potential successor to Trump.
Instead of launching his own political party, Musk is now considering a different strategy for wielding his political influence. People close to him have stated that he is weighing the possibility of using his vast financial resources to back JD Vance if Vance decides to run for president in 2028. This potential move would align with Vance’s recent public statements, where he has urged Musk to “come back into the fold” of the Republican Party, dismissing the disagreements with Trump as minor.
Musk, who was the largest individual donor in the 2024 election cycle, previously supported Donald Trump and was appointed to lead the Department of Government Efficiency (DOGE) in the Trump administration. His decision to put his third-party plans on hold is seen as a strategic move that would benefit Republicans by preventing a split in the vote in the upcoming midterm elections.