<p>Tesla CEO and the world's richest man Elon Musk, who in July had sent shockwaves across the USA's political spectrum with the announcement that he was going to form a political party—the America Party—is now apparently halting his plans for the same, the <em>Wall Street Journal</em> reported.</p><p>Musk is also planning to back J D Vance if he stands as the Republicans' presidential candidate once Donald Trump vacates the seat after his second term, the publication reported.</p><p>"By a factor of 2 to 1, you want a new political party and you shall have it!" he had earlier said in a post on X.</p>.<p>The <em>WSJ</em> report reveals that Musk took the decision of not going ahead with his own political outfit in order to not mess up his relationship with Vance.</p><p>Musk spent hundreds of millions on Trump's re-election and led the Department of Government Efficiency under the Trump administration aimed at slashing government spending, but the two have since fallen out over disagreements about the bill.</p><p>Trump earlier this week threatened to cut off the billions of dollars in subsidies that Musk's companies receive from the federal government.</p><p>Musk said previously that he would start a new political party and spend money to unseat lawmakers who supported the bill.</p><p>Republicans have expressed concern that Musk's on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.</p> <p><em>With Reuters inputs</em></p>
<p>Tesla CEO and the world's richest man Elon Musk, who in July had sent shockwaves across the USA's political spectrum with the announcement that he was going to form a political party—the America Party—is now apparently halting his plans for the same, the <em>Wall Street Journal</em> reported.</p><p>Musk is also planning to back J D Vance if he stands as the Republicans' presidential candidate once Donald Trump vacates the seat after his second term, the publication reported.</p><p>"By a factor of 2 to 1, you want a new political party and you shall have it!" he had earlier said in a post on X.</p>.<p>The <em>WSJ</em> report reveals that Musk took the decision of not going ahead with his own political outfit in order to not mess up his relationship with Vance.</p><p>Musk spent hundreds of millions on Trump's re-election and led the Department of Government Efficiency under the Trump administration aimed at slashing government spending, but the two have since fallen out over disagreements about the bill.</p><p>Trump earlier this week threatened to cut off the billions of dollars in subsidies that Musk's companies receive from the federal government.</p><p>Musk said previously that he would start a new political party and spend money to unseat lawmakers who supported the bill.</p><p>Republicans have expressed concern that Musk's on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.</p> <p><em>With Reuters inputs</em></p>
