Musk's Political Leap Sparks Business and Political Controversy

Elon Musk's decision to establish the 'America Party' has ignited a wave of controversy, raising questions about its repercussion on his commitments to Tesla and SpaceX. The announcement has prompted Azoria Partners, an investment firm aligned with Tesla, to postpone a planned fund, citing potential conflicts with Musk's CEO duties.

During a CNN interview, Treasury Secretary Scott Bessent voiced concerns that Tesla and SpaceX boards might urge Musk to concentrate on his corporate responsibilities rather than political ambitions. Bessent hinted that Musk's influence on voters is limited, despite his role as a top adviser to Donald Trump.

The tax-cut and spending bill, deemed risky by critics for increasing the federal deficit, has led to tensions between Musk and Trump. While the White House remains buoyant over the bill's passage, Musk's political ambitions have created ripples in both business and political arenas.

(With inputs from agencies.)