Elon Musk, the head of Tesla and SpaceX, is eager to participate in politics. However, this time the businessman is being a bit slower to put his ideas into action. The topic in question is the establishment of his own political party.

Currently, Musk is striving to maintain close ties with US Vice President J.D. Vance. Against this backdrop, the entrepreneur is concerned that creating a new party might damage his relationship with the high-ranking policymaker. At the same time, Musk is considering the option of financing Vance’s campaign if he decides to run in future elections.

Billionaire Elon Musk, who has been named the world’s richest person with a fortune of $413 billion according to Forbes, has decided to hold off on forming a new party. According to The Wall Street Journal, the founder of Tesla and SpaceX plans to focus on his companies and does not want to alienate influential Republicans. In addition, Musk maintains contact with Vice President J.D. Vance. Experts are betting on him as a potential successor to the MAGA (Make America Great Again) movement.

At the same time, the billionaire is open to the possibility of funding the vice president’s campaign if Vance decides to run for president in 2028. Previously, Musk spent around $300 million supporting Donald Trump and other Republicans during the 2024 elections. However, in July of this year, after a feud with the US president, he announced the creation of a third party called “America.”

The conflict between Musk and Trump arose after Musk criticized the “Big Beautiful Bill”, a government spending and tax proposal. The Tesla and SpaceX CEO stated that its implementation would increase the budget deficit to $2.5 trillion and could push the US towards bankruptcy. In response, Trump claimed that Musk was “upset about losing the electric vehicle mandate” and threatened to cut off government contracts and subsidies. Although the two men ultimately reached a compromise, their cooperation ended.

Speaking about Musk's party, Trump remarked that it was “sad to watch” as the entrepreneur had “gone completely off the rails.” According to the president, third parties “have never succeeded in the United States,” but “have excelled at creating total chaos.”

Later, the American leader stated that he wished Musk’s companies “prosperity like never before,” adding that he firmly believes this would be benign for the country.