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Elon Musk's New Political Party Faces Backlash from Trump and ...
2025-07-07 12:29:09
Politics
Business

Elon Musk's New Political Party Faces Backlash from Trump and Investors

Elon Musk's announcement of a new political party, the 'America Party,' has sparked significant controversy and criticism, particularly from former ally Donald Trump. Trump has publicly denounced Musk's plans as 'ridiculous,' highlighting the historical ineffectiveness of third parties in the American political landscape. This development has intensified tensions between Musk and Trump, who were once close collaborators. Musk's move is seen as a response to disagreements over Trump's tax legislation.

The tech billionaire's decision has also caused concern among Tesla investors, leading to a noticeable drop in the company's stock value. Analysts warn that Musk's political ambitions could divert his attention from his business responsibilities, potentially harming Tesla's performance. Meanwhile, U.S. Treasury Secretary Scott Bessent advised Musk to focus on his business ventures. The situation remains fluid, with potential implications for upcoming elections and the broader political and economic climate.

Related news on that topic:

Elon Musk Launches America Party to Challenge Political Status Quo

Elon Musk has made headlines by announcing the formation of his new political party, the 'America Party.' This initiative arises from his discontent with the existing political landscape, particularly in response to Donald Trump's controversial budget bill. Musk aims to challenge the status quo and advocate for a more diverse political system that empowers citizens and minimizes government overreach. His decision to step back from advising Trump followed a public disagreement over fiscal policies, particularly regarding tax cuts and spending that he believes threaten the nation's financial stability. The America Party is positioned as a movement to restore freedom and accountability in governance, addressing concerns of corruption and inefficiency that Musk attributes to both major political parties. Polling conducted on Musk's platform revealed significant support for a new party, with over 65% of respondents favoring an alternative to the current dual-party system. This reflects a growing sentiment among the populace for new political representation. Despite his ambitions, experts caution that establishing a viable third party in the United States is fraught with challenges. Issues such as gerrymandering, political polarization, and stringent ballot access laws may hinder Musk's efforts. Nevertheless, he is determined to focus on key electoral races, signaling an intent to influence the political discourse significantly. While Musk's vision for the America Party garners interest, its actual impact on the political landscape remains to be seen.

Elon Musk Launches America Party, Advocates Bitcoin Payments Amid ... Political Backlash

Elon Musk has announced the creation of a new political entity, the America Party, which will embrace Bitcoin as a form of payment. This move aligns with Musk's previous endorsements of cryptocurrency, notably Bitcoin and Dogecoin. Musk's announcement comes as a response to a recent congressional decision, which he opposed, leading him to promise the formation of this new party. The America Party's platform includes a strong stance on cryptocurrency, reflecting Musk's belief that traditional fiat currencies are becoming obsolete. Following Musk's confirmation, Bitcoin experienced a slight increase in value, showcasing the potential influence of his public statements on cryptocurrency markets. The formation of the America Party has sparked criticism from U.S. President Donald Trump, who has labeled the initiative as 'ridiculous' and a potential threat to the Republican vote in upcoming elections. Trump and Musk's relationship, once amicable, has soured following disagreements over domestic policy. Trump has expressed concern that the new party could divide the conservative base, possibly benefiting Democratic candidates. Musk's foray into politics is seen as ambitious, given the dominance of the two-party system in the United States, where third parties historically struggle to gain significant traction. Critics, including those within the political and business sectors, have urged Musk to focus on his enterprises, such as Tesla and SpaceX, instead of engaging in political endeavors. Despite the skepticism and opposition, Musk's announcement has added a new dimension to the political landscape, highlighting the growing intersection between technology, finance, and politics.

Read 10 more recent news on this topic

The press radar on this topic:

AFP
7. Juli 2025 um 10:11

Trump calls Musk 'completely off the rails' - Harsh criticism of party founding plans

US President Donald Trump has described Elon Musk's plans to found his own party as 'ridiculous' and Musk as 'completely off the rails'. Trump criticizes that a third party would not work in the US party system dominated by Republicans and Democrats. Musk's announcement of his own party could harm the Republicans in the next elections. The tech billionaire had supported Trump with millions last year, but now seems to be running against him.
The Guardian
8. Juli 2025 um 02:09

Donald Trump clashes with Elon Musk and threatens additional tariffs on countries with ‘anti-American’ policies – US politics live

Donald Trump has widened his trade war by imposing an additional 10% tariff on countries aligning with BRICS' 'anti-American policies'. This includes China and Russia. Trump's feud with Elon Musk escalated as Musk posted a photo of Ghislaine Maxwell, questioning why she was the only one in prison while others who engaged in underage sex were not. Netanyahu is visiting Washington to discuss a potential ceasefire deal with Hamas, which Trump has been pushing for.
The Street
15. Juli 2025 um 00:14

Elon Musk’s poll on starting new party garners 64% votes

Elon Musk has proposed creating a new political party in the US, dubbed the 'American Party', with 64% of respondents on social media platform X supporting the idea. The tech mogul wants to focus on specific Senate seats and House districts to gain decisive votes. This comes as Musk has distanced himself from President Trump's pro-crypto policies due to concerns over rising national debt.
The Street
7. Juli 2025 um 02:08

Trump responds after Musk's 'Epstein files' allegations

President Trump and Elon Musk have engaged in a public feud, with Trump saying he has 'no plans' to speak with Musk. The dispute began over Trump's proposed 'big beautiful bill' and escalated into personal jabs and political threats. Musk criticized the bill, calling it a 'disgusting abomination,' and suggested launching a new political party. The falling-out marks a sharp turn from their once-friendly dynamic, with Trump previously appointing Musk to a symbolic government role. The uncertainty..
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