One political expert doubts that Elon Musk’s America Party’s primary message of fiscal discipline will really motivate voters, adding that voters care about the cost of living but don’t seem

July 7–8, 2025: The first trading day since Musk’s weekend announcement, Tesla shares tumbled, and Musk’s personal fortune dropped by as much as $15 billion, according to the Bloomberg Billionaires Index. As of July 9, it stands at $349 billion with Tesla shares broadly unchanged.

Building a new political party to rival the Democrats and Republicans is enormously difficult and expensive. Small wonder it hasn’t been done.

However, despite reports that Musk had already filed paperwork with the Federal Election Commission Sunday to establish his so-called “America Party,” the billionaire took to his social media platform to shut them down. “This filing is false and has been reported as such to the FEC,” Musk wrote.

Billionaire entrepreneur and recent MAGA deserter Elon Musk proclaimed that his new political party—the America Party —is now formed, prompting a barrage of questions about the party's platform.

After Musk publicly condemned the bill and its backers, Trump threatened to revoke federal funding for Musk’s businesses and even floated the idea of deporting him. “We’ll have to take a look,” Trump said when asked about the possibility—despite Musk being a US citizen since 2002.