Tesla CEO and former Trump confidante, Elon Musk is hitting back at reports that he may be dropping plans to form his own political party. Musk on Wednesday pushed back against a report that he’s dropping plans to form a new political party after he grew angry with President Donald Trump’s domestic policy bill.
The Wall Street Journal reported that the richest man in the world has told associates he fears founding a new party would damage his relationship with Vice President J.D. Vance, who’s seen as a top contender for the 2028 presidential election.
“Nothing @WSJ says should ever be thought of as true,” Musk posted overnight on his social media platform X, in response to a user who cited the WSJ report.
Vance said on Wednesday that he has not spoken with Musk or any other donor about a potential 2028 presidential campaign.
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“I saw the story, and as far as I can tell, the story is completely fake,” Vance said on Fox News. “I’ve never talked with Elon Musk, or, frankly, any other donor about 2028.”
In an interview last week with far-right outlet Gateway Pundit, Vance called Musk’s relationship with the Trump White House “complicated” but said he expects and hopes Musk will support the Republican Party by next November’s midterm elections.
“My argument to Elon is like, you’re not going to be on the left, even if you wanted to be — and he doesn’t — they’re not going to have you back, that ship has sailed. So I really think it’s a mistake for him to try to break from the president,” Vance said.
It does however, look like a new political party may be on the back burner for Musk, as he finds himself facing a lawsuit over his involvement in Trump’s re-election campaign.
Musk was ordered on Wednesday by a federal judge to face a lawsuit by voters accusing the world’s richest person of defrauding them into signing a petition to support the U.S. Constitution for a chance to win his $1 million-a-day giveaway.
Jacqueline McAferty, an Arizona resident, who is part of the class action against Musk said, Musk and America PAC induced voters in seven battleground states to sign his petition by promising that $1 million recipients would be chosen randomly, as in a lottery, though the voters had no real chance to collect.
She also said voters who signed were also required to provide names, addresses, email addresses, and phone numbers.
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The suit also alleges that Musk and the associated America PAC misled the public by framing the campaign as a lottery. The promotion offered participants a chance to win $1 million daily if they signed a petition and provided personal details. Critics argue that this amounted to an illegal lottery and deceptive political marketing. Musk’s team claims the funds were used to elevate certain individuals as campaign spokespeople, not awarded by chance. Nonetheless, the promotional materials suggested random selection, which raised legal and ethical concerns.
“It is plausible that plaintiff justifiably relied on those statements to believe that defendants were objectively offering her the chance to enter a random lottery — even if that is not what they subjectively intended to do,” U.S. District Judge Robert Pitman in Austin, Texas, wrote.
Even with all his legal troubles, at least on social media Musk seems undeterred in his efforts to form a new political party. Though Musk has discussed the idea with figures like one-time presidential candidate Andrew Yang and right-wing tech-founder-turned-philosopher Curtis Yarvin, he has not filed paperwork for a new party with the Federal Elections Commission.