Billionaire Elon Musk has postponed the creation of a new political party in order to focus on business and not take away votes from the Republican Party, The Wall Street Journal reported, citing its sources.
According to the publication, one of the key factors in Musk's decision is his desire to maintain good relations with Vice President J.D. Vance, who is considered a potential successor to the MAGA (Make America Great Again) political movement. Musk acknowledges that creating a third party would damage his relationship with the vice president.
Sources say Musk is considering using his vast financial resources to support Vance if he decides to run for president in 2028. Musk is reported to have spent about $300 million supporting Donald Trump and other Republicans in the 2024 election.
At the same time, Musk's allies say he has not officially given up on the idea of creating a new party and may change his mind as the midterm elections approach.
After Musk left government service, he and Trump had a loud public showdown on June 5 via social media. The businessman said that without his support, the head of the US administration would not have won the elections in November 2024, approved the idea of a new attempt to impeach Trump, criticized the government spending bill developed at the initiative of the White House and the import tariffs imposed by the president. Trump called Musk "crazy" and said that at one point he stopped performing his duties conscientiously when he headed the work of the Department of Government Efficiency (DOGE).
On July 5, Musk announced the creation of the American Party (AMEP) in the United States.