Musk's new party

Expert: Musk has read the room – there will be no new party

There are many indications that Elon Musk has abandoned his promise to start a new party, writes Axios.

Although it has been more than three weeks since Musk promised to start an "America Party", he has not taken any formal steps in that direction.

Elon Musk's account on X has also been noticeably silent on the matter recently.

Many analysts have previously seen Musk's chances as slim. Third parties in the US have historically had difficulty gaining influence and the billionaire's own unpopularity figures recently hit a new record.

- Musk has read the room, says analyst Dan Ives at Wedbush Securities, who has studied Elon Musk's strategic choices for many years.

Musk's America Party — the point

After a very public conflict with his former ally Donald Trump, Elon Musk announced on X on July 5 that he is founding the new party America Party.

Musk stated that the party aims to give Americans their freedom back and target centrist voters who sympathize with neither the Democrats nor the Republicans.

The market reacted negatively to the announcement and Tesla's stock fell more than 7 percent, which corresponded to a loss of $16.7 billion in Musk's fortune.

Several experts and political analysts believe that it is very difficult to establish a new party in the United States and that Musk's chances of success are small.

Republican senators have expressed concern that the America Party could split their voter base ahead of the 2026 Senate elections, although few believe that the party could win many seats.