Elon Musk’s political party isn’t happening, as Tesla CEO gives up on the “America Party”
In July, Tesla CEO Elon Musk announced his own political party, the America Party — a move intended to “give you back your freedom.” What it did at the time was invoke the wrath of President Donald Trump and send the stock down.
A month and a half later, The Wall Street Journal is reporting that Musk is “pumping the brakes” on his third party.
According to the Journal, “Musk has told allies that he wants to focus his attention on his companies and is reluctant to alienate powerful Republicans by starting a third party that could siphon off GOP voters.” He also wants to maintain ties with Vice President JD Vance, the presumptive Republican presidential candidate for 2028.
What happened?
For one, earlier this month Tesla’s board approved a roughly $30 billion interim pay package that Musk will only realize if he remains at the company for two years.
The stock isn’t moving on the news so far, but investors and analysts typically see Musk’s focus on his public company as a good thing.
According to the Journal, “Musk has told allies that he wants to focus his attention on his companies and is reluctant to alienate powerful Republicans by starting a third party that could siphon off GOP voters.” He also wants to maintain ties with Vice President JD Vance, the presumptive Republican presidential candidate for 2028.
What happened?
For one, earlier this month Tesla’s board approved a roughly $30 billion interim pay package that Musk will only realize if he remains at the company for two years.
The stock isn’t moving on the news so far, but investors and analysts typically see Musk’s focus on his public company as a good thing.
