Elon Musk responded to a Wall Street Journal report that claimed he’s already backing off his plan to form a third party.
Amid his public disagreements with the Trump administration over the One Big Beautiful Bill, the billionaire entrepreneur had said he would create the America Party for those dissatisfied by the nation's two-party system.
But citing “people with knowledge of his plans,” the Journal reported Musk “told allies that he wants to focus his attention on his companies and is reluctant to alienate powerful Republicans by starting a third party that could siphon off GOP voters.”
Musk’s posture marks a shift from early last month, when he said he would form what he called the America Party to represent U.S. voters who are unhappy with the two major political parties.
As he has considered launching a party, the Tesla chief executive has been focused in part on maintaining ties with Vice President JD Vance, who is widely seen as a potential heir to the MAGA political movement. Musk has stayed in touch with Vance in recent weeks, and he has acknowledged to associates that if he goes ahead with forming a political party, he would damage his relationship with the vice president, the people said.
Musk and his associates have told people close to him that he is considering using some of his vast financial resources to back Vance if he decides to run for president in 2028, some of the people said. Musk spent close to $300 million to support Trump and other Republicans in the 2024 election.
Musk’s allies said he hasn’t formally ruled out creating a new party and could change his mind as the midterm elections near.
But Musk and his team haven’t engaged with many prominent individuals who have voiced support for the idea of a new party or could be a crucial resource to help it get off the ground, including by assisting with getting on the ballot in crucial states. His associates canceled a late-July call with an outside group that specializes in organizing third-party campaigns, according to a person with direct knowledge of the matter. Participants were told that the meeting was canceled because Musk wanted to focus on running his businesses, the person said. (WSJ)
When the report began circulating on X, however, Musk responded directly.
“Nothing @WSJ says should ever be thought of as true," he wrote.
Musk's disdain for The Wall Street Journal is well documented. One recent example includes the Tesla CEO pushing back on what he said was false reporting from the paper about his EV company’s board being on the hunt for a new leader to replace him.
It is an EXTREMELY BAD BREACH OF ETHICS that the @WSJ would publish a DELIBERATELY FALSE ARTICLE and fail to include an unequivocal denial beforehand by the Tesla board of directors! https://t.co/9xdypLGg3c
— Elon Musk (@elonmusk) May 1, 2025
During a June event in Qatar, Musk railed against the Journal, calling it the "worst newspaper in the world," and one he wouldn't even line a bird cage with.