'America Party' shelved? Elon Musk might put third-party idea on hold; may have a strategy for 2028

NEW DELHI: Elon Musk is stepping back from his plan to establish a third political party in the United States, telling associates he prefers to focus on his business ventures and avoid alienating influential Republicans, The Wall Street Journal reported on Tuesday.

According to the report, Musk is weighing the possibility of deploying part of his financial resources to support US Vice President JD Vance if he contests the 2028 presidential election. The development was cited by people familiar with the matter.

Reuters said it could not independently verify the claims. Both Tesla and the White House did not respond immediately to requests for comment.

Musk had announced the creation of the America Party in early July after President Donald Trump signed his "big, beautiful" tax-cut and spending bill into law, a move Musk had strongly opposed. At the time, he wrote on X, "Today, the America Party is formed to give you back your freedom."