Owner of Tesla and Space X spent nearly $ 300 million in the Trump and other republican election campaign
Billionaire Elon Musk, owner of Tesla, is discreetly braking plans to launch his new political party, telling allies that he wants to focus on his companies, according to the American newspaper Wall Street Journal, who heard people familiar with the issue.
The businessman denied the information after the publication of the report. “Nothing @wsj says should be considered true,” musk wrote in a post on his social network X.
The billionaire had announced in July the creation of the America, with the aim of competing for elections for the House and Senate, after a public rupture with President Donald Trump.
The announcement occurred one day after the Republican signed a tax and spending cut bill to which the billionaire opposed. Musk spent hundreds of millions in the Trump campaign in 2024.
Following the election of the Republican, the entrepreneur led the Department of Government Efficiency (Doge) in the current management, with the objective of reducing government spending, but the two were disagreed due to disagreements about the bill.
According to the Wall Street Journal, Musk has focused on maintaining ties with Vice President JD Vance and told people that the creation of a political party would hurt his relationship with the politician.
Musk and his allies would also have told people close to Vance that the billionaire consider using part of his resources to support the vice president if he decides to run for president in 2028, the newspaper said.
The owner of Tesla and Space X spent nearly $ 300 million ($ 1.6 billion) in the Trump and other republicans election campaign.
Asked by the Wall Street Journal, a Vance spokesman sent an interview that the vice president gave this month to Gateway Pundit, a conservative website. At the time, Vance said it would be a musk error to break with Trump and the conservative movement.
“Therefore, my hope is that even the middle elections have already returned to the group,” said Vance. Musk’s allies said the billionaire did not formally discard the creation of a new party and could change his mind.
Tesla’s shares fell more than 18% this year, after the company registered in July its worst quarterly drop in sales in more than a decade and profits below the expectations of Wall Street – although profit margin exceeded expectations.
Musk also warned of “some difficult quarters” after the end of Trump government support for electric vehicles.
Musk’s idea of creating an alternative party to the Democrat and Republican, who have dominated American politics since the 19th century, bumps into a history of failures in the United States. Other attempts to pierce the bipartisan bubble failed electoral terms.
