Elon Musk Pauses Political Party Plans as Business Priorities Take Front Seat

Elon Musk, the billionaire entrepreneur, has decided to slow down on launching his political entity, America Party, according to sources quoted by the Wall Street Journal. Musk has conveyed to his inner circle a desire to concentrate on his business pursuits rather than venture into politics.

The announcement of America Party in July followed a heated exchange with President Donald Trump over tax cuts and spending. Musk's relationship with Vice President JD Vance is a significant factor in his decision, as he fears a political party could harm their rapport. Reports suggest Musk might back Vance for a 2028 presidential campaign financially.

While Reuters attempts to verify these developments, Tesla and the White House are yet to comment. Amid these political maneuvers, Tesla is also facing a stock decline, which adds to investor concerns about Musk diverting attention from Tesla to political endeavors, especially after Tesla reported significant sales and profit issues.

(With inputs from agencies.)