Musk puts on hold plans to launch new political party – WSJ

Elon Musk has put the brakes on his plans to form a new political party in the United States, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The billionaire entrepreneur cancelled a planned meeting with a group that specializes in organizing third-party campaigns, telling allies he wanted to focus on managing his companies and avoid alienating influential Republicans, the report said.

Musk had announced in July the creation of the “America Party” with an initial goal of winning two or three Senate seats and up to 10 seats in the House of Representatives. The plan followed a public clash with U.S. President Donald Trump.

While shelving the immediate launch, Musk is weighing political involvement in the future, including possible financial backing for Vice President J.D. Vance’s expected 2028 presidential bid, according to the report.