Musk postpones plans to launch his own political party

American billionaire Elon Musk has decided to postpone the creation of his own political party in order not to alienate Republican voters and to maintain friendly relations with U.S. Vice President J.D. Vance, The Wall Street Journal reports, citing sources.

As reported, Musk is considering providing financial support to Vance in the 2028 presidential elections. However, he is not abandoning the idea of forming his own party entirely and may still reconsider as the midterm elections approach.

The publication notes that Musk has already spent around $300 million on the campaigns of former U.S. President Donald Trump and other Republican Party members.

In July, Musk announced the creation of the America Party. He stated that his party could back any candidate in the 2028 U.S. presidential race, but in the next 12 months the focus will remain on the House and Senate elections.