After his dramatic break with the White House, tech billionaire Elon Musk, who loves to shake things up, seems to have quietly given up on his idea of starting a "America Party." The Wall Street Journal says that Musk now wants to focus on his businesses and stay in touch with Vice President JD Vance, who might run for president as a Republican in 2028. Honestly, Musk's focus on his own empire makes sense. He has rockets to launch, cars to sell, and a few businesses to run.
Musk is said to have told his close friends that starting the new party could cause big problems within the Republican Party, especially with Vance, who he has been in touch with recently. Musk doesn't want to weaken the political side he might be able to work with, right? So, he's backed off, but not completely. I think Musk is just keeping his options open for the future.
A win for the Republicans?
The Republican Party is probably happy that Musk has decided to back off. He was thinking about going after important GOP seats before the midterm elections in 2026. A Polymarket poll showed that a lot of people think the Republicans will win the Senate, but the Democrats will win the House in 2026. We'll see how that goes, I guess.
The Feud Between Musk and Trump
Musk's first push for a new political party came after he had a fight with former President Donald Trump over a huge spending bill that Musk didn't like. The One Big Beautiful Bill Act will add a shocking $3.3 trillion to the US national debt over the next ten years. Musk, who wants to cut government spending, wasn't happy about this, and Trump didn't hold back, calling Musk's idea to start a new party "off the rails."
The drama didn't end there. Tesla shareholders weren't too happy with Musk's political move either. When Musk asked his X (formerly Twitter) followers in June if they wanted to start a party, Tesla stock fell by more than 20%. What a pain in the neck for politics!
Is it time to create a new political party in America that actually represents the 80% in the middle?
— Elon Musk (@elonmusk) June 5, 2025
A Look Ahead at Vance's Chances in 2028
Polymarket polls show that Vance has a good 53% chance of winning the Republican nomination for president in 2028. At the same time, California Governor Gavin Newsom has an 18% chance of winning. I can't help but wonder if Musk will get back into politics at some point, maybe when it works out better for him.
Musk has cut back on his political donations in the meantime, going from $250 million to support Trump's 2024 campaign to less than that. But don't rule out the idea of a new political party just yet; anything could happen with the midterm elections coming up in 2026.
Alex Shepel
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