It could set the stage for another battle with Trump, who wants to be known as the 'crypto president'.
Trump calls Musk’s new America Party ‘ridiculous’: ‘Starting a third party just adds to confusion’
BY MICHELLE L. PRICE AND ASSOCIATED PRESS
July 7, 2025
Elon Musk’s feud with Trump and ‘America Party’ gambit hit Tesla shares and wiped up to $15 billion off his net worth
BY ASHLEY LUTZ AND FORTUNE INTELLIGENCE
Cuban but has flirted with third-party politics, though he has yet to run for office.
Elon Musk said he would form a new political party called the "America Party."
The billionaire also believes that forming a political party would damage his relationship with Trump’s deputy, J.D. Vance.
Musk unveiled the 'America Party' in July after a public dispute with President Donald Trump on the tax cut and spending bill.
It was perhaps the most widely predicted break-up in American political history.
The day before, Tesla said revenue fell 12% and profit dropped 16% in the April-June quarter.
