JUST IN: Musk To Scrap New Political Party, Support MAGA Figure For POTUS In ’28

Billionaire Tesla CEO Elon Musk is reportedly planning to put creating his own political party on hold so he can maintain his connections with key Republicans within the MAGA movement. One critical relationship he is looking to keep healthy and intact is with Vice President JD Vance, whom Musk is said to be backing for president in 2028.

Previously, Musk had proclaimed that his new “America Party” would issue a much-needed challenge to the current two-party system of the United States. However, he spoke to those close to him and said he’d rather focus on his companies and not lead voters away from Republican allies in Washington, according to The New York Post.

The SpaceX CEO is reportedly working to maintain ties with Vance, who is speculated to be the heir apparent of the MAGA movement once Trump completes his second term in the White House.

Musk, who is considered to be the richest man on the planet, has said to individuals within his circle that he would financially back Vance should he decide to run for president at the end of Trump’s term.

“He dumped nearly $300 million on Trump and other Republican campaigns in the 2024 elections, propelling Trump to a second presidential victory. Still, Musk hasn’t completely ruled out moving forward with the new party and is waiting to see how the 2026 midterm elections shake out, the tech mogul’s allies told the Journal,” the Post reported.

Pennsylvania, USA, March 22, 2025; Elon Musk greets US President Donald Trump as he arrives to watch the men’s NCAA wrestling competition

Musk first began floating the idea of a new political party a month ago when he had a very public conflict with President Trump concerning the “Big, Beautiful Bill.” The billionaire referred to the legislation as a “disgusting abomination” and slammed it for wasteful government spending.

He then proposed targeting “2 or 3 Senate seats and 8 to 10 House districts” in major congressional races. Musk then stated that he would back primary challengers against GOP members who backed Trump’s bill.

The feud intensified further when Trump responded by saying he would cut all of Musk’s federal contracts. The NY Post says that cutting the national deficit is a top political priority for Musk. It’s one of the reasons why the president named Musk the head of the Department of Government Efficiency (DOGE) before he left the agency in May.

As of this writing, it seems that Trump and Musk are at peace with one another. Musk has cooled his temper and is no longer criticizing Trump or any other GOP politicians.

When the Post reached out to Vance for comment, he pointed them to an interview he did with a conservative-leaning outlet where he said it was not a good idea for conservatives to break with MAGA, hoping Musk would “come back into the fold” before the midterm elections.