Elon Musk is quietly abandoning his plans to launch a new political party in the United States, according to a report by the Wall Street Journal citing people familiar with the matter.
The billionaire entrepreneur has told allies he intends to focus on his companies rather than pursuing political ambitions.
Musk first announced the creation of the so-called “America Party” in July, following a public clash with President Donald Trump over a tax and spending bill. However, the world’s richest man is now said to be prioritizing his business empire while maintaining close ties with Vice President J.D. Vance.
Sources told the newspaper that Musk admitted forming a political party could damage his relationship with Vance. Musk and his advisers have even suggested to people close to Vance that the Tesla and SpaceX chief might use part of his vast resources to back the vice president should he launch a presidential bid in 2028.
Reuters has not yet been able to independently verify the report. Tesla and the White House declined to comment outside official working hours.
Vance, who earlier this year called for calm after Musk’s public row with Trump, reiterated his position this month and urged Musk to return to the Republican fold.
Musk has also issued a warning to investors that Tesla could face a difficult period in the coming financial quarters, particularly as Trump’s administration phases out federal support for electric vehicles.
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