Elon Musk’s ‘America Party’ plans have stalled: Report

Tech billionaire Elon Musk has quietly shifted his attention away from forming his “America Party,” a political party he proposed creating last month after splitting from the White House.

Musk wants to focus on his company and maintain ties to Vice President JD Vance, who could be a top Republican contender for president after Donald Trump, The Wall Street Journal reported on Tuesday, citing people with knowledge of his plans. 

Musk reportedly told his close allies that if he were to continue with the creation of the new party, it could pull in Republican voters, weakening that party’s election chances and alienating him from Vance, with whom he is said to have been in contact in the past few weeks.

Musk, the world’s richest person, is said to have floated the idea of supporting Vance financially should he choose to run for president in the 2028 elections.

Elon Musk (center left) attends a Cabinet meeting in April with President Donald Trump (right). Source: The White House

Impact on 2026 midterm elections

Musk's decision to back off from creating a political party would be a relief to the Republicans, as Musk had threatened to target key seats leading up to the midterm elections next year, which would include aiming to unseat some GOP lawmakers.

A Polymarket poll indicated that users are expecting the Republican Party to win the Senate, with the Democrats winning the House in the 2026 midterm elections.

Trump-Musk Feud

Musk’s formation of a new political party in July arose from his feud with President Donald Trump after Congress passed a massive spending bill to which Musk objected.

The bill, called the One Big Beautiful Bill Act, is estimated to increase the US national debt by $3.3 trillion over the course of the next decade.

Musk saw the bill as undoing his work at the Department of Government Efficiency, which aimed to reduce government spending to lower the US national debt.

Trump lambasted Musk for wanting to create a new political party, saying he had gone “off the rails,” and the two entered a public feud over the bill.

Tesla shareholders didn’t like the idea of Musk starting a new political party, as the stock dwindled by more than 20% as Musk polled X users over creating such a party in June.

Currently, users of the prediction platform Polymarket are expecting Vance to win the Republican presidential nomination for the 2028 election, with 53% odds. 

Another Polymarket poll has pegged Vance’s chance of winning the 2028 presidential election at 28%, with California Governor Gavin Newsom being second with an 18% chance.

People close to Musk still have not ruled out the possibility of Musk creating the new party as the 2026 midterm elections draw closer.

A May report indicated that Musk had dialed down his political donations after contributing $250 million to support Trump during his 2024 presidential campaign.