Elon Musk is pulling back from plans to self-fund candidates for a new third party after his public split with President Donald Trump. The billionaire CEO of Tesla, SpaceX, and X had previously vowed to create the America Party in response to a feud with Trump, but new reports suggest those ambitions are already fading.
According to the Wall Street Journal, Musk is “quietly pumping the brakes on his plans to start a political party,” citing people familiar with the matter. Sources said Musk has told allies that he wants to refocus on his companies and avoid “alienating powerful Republicans by starting a third party that could siphon off GOP voters.”
The move marks a reversal from Musk’s heated statements earlier this year, when he declared his intention to challenge both Republicans and Democrats after clashing with Trump.
Their fallout followed nearly a year of close alliance, with the relationship unraveling this summer over political ambitions, policy disagreements, and personal attacks. A central point of contention was the so-called “Big Beautiful Bill,” legislation projected to add trillions to the national debt. Musk sharply criticized Trump’s support of the measure, setting off a series of public barbs between the two.
After distancing himself from Trump, Musk announced he would launch a third party as a direct response to their breakup. His pledge quickly generated headlines, with speculation that his vast wealth could disrupt traditional politics. But insiders now say Musk has cooled on the idea, recognizing the risk of dividing Republican voters and weakening his political influence.
That hesitation has also been shaped by Musk’s recent conversations with Vice President JD Vance. According to reports, Musk came away from those discussions believing that a third-party effort could harm his relationship with Vance. He is now said to be weighing whether to back Vance in a potential 2028 presidential bid.
For now, Musk appears to be prioritizing his role at his companies over building a political movement. The shift underscores the challenges even the wealthiest figures face when attempting to upend America’s entrenched two-party system.
While his plans for the America Party are not officially dead, those close to him suggest the project has been placed firmly on the back burner. Whether Musk eventually revives the effort or chooses to align with an existing candidate like Vance remains to be seen.