Elon Musk's Political Ambitions Stir Controversy as 'America Party' is Born

Elon Musk finds himself at the center of political and business controversy following his announcement to establish a new U.S. political faction called the 'America Party'. The move, seemingly in response to former President Trump's tax-cut and spending bill, has sparked a wave of criticism and concern among business associates and political commentators.

U.S. Treasury Secretary Scott Bessent suggested that Tesla and SpaceX boards are likely uneasy with Musk's political pursuits, emphasizing the need for him to stay focused on company management. The controversial spending bill, which Musk opposes, has widened the rift between him and Trump.

Investment firm Azoria Partners has postponed launching a Tesla-linked fund in light of Musk's political declaration, citing a conflict with his full-time CEO responsibilities. While Trump's administration downplays Musk's influence, the ongoing feud raises questions about the balance between business leadership and political engagement.

(With inputs from agencies.)