Elon Musk Forms America Party
Analysis based on 10 articles · First reported Jul 06, 2025 · Last updated Jul 06, 2025
Elon Musk's formation of the Americas and his feud with Donald Trump could negatively impact his businesses, such as Tesla, Inc. and SpaceX, which rely on government contracts. The political uncertainty and potential for significant spending by Musk in future elections could also create volatility in related sectors.
Elon Musk announced the formation of a new political party, the Americas, following a split with President Donald Trump over a new tax cuts law. Musk, who previously supported Trump, criticized the legislation as an 'insane spending bill' that would increase the national debt. This move marks a reversal for Musk, who had indicated he would spend less on politics. The formation of the Americas could impact the 2026 midterm elections if Musk invests significant funds. Donald Trump dismissed the idea of a third party as 'ridiculous'. Musk's businesses, including Tesla, Inc. and SpaceX, rely on government contracts, and Tesla's stock has already taken a hit due to the renewed political feud. Treasury Secretary Scott Bessent suggested that company boards would encourage Musk to focus on his business activities.
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