The dispute between Donald Trump and his main campaign sponsor Elon Musk led to the possible emergence of a new party in the USA.
On July 4, Independence Day in the USA, Donald Trump signed his “big beautiful law” on taxes. And Elon Musk, who had previously stated that Trump’s tax bill would lead America to bankruptcy, launched a poll on the need to create a new party “America.” 1.3 million people participated, and more than 65% of respondents supported the entrepreneur.
The day after the poll on the X platform, Musk announced that a new party had been created.
“By a two-to-one ratio, you want a new political party — and you will get it! When it comes to bankrupting our country with waste and corruption, we effectively have a one-party system, not a democracy. Today, the America Party is being created to return your freedom to you,” he wrote on the social network X.
The first signs of investor dissatisfaction with Musk's statement appeared on the same day. The investment company Azoria Partners will postpone the listing of the exchange-traded fund Tesla, reported Azoria CEO James Fishback in his post on X.
Fishback also asks the Tesla board of directors to clarify Musk's political ambitions and stated that the new party undermines shareholder confidence that he will pay more attention to the company after leaving public service in May.
Musk had previously stated that he would create a new political party and spend money to remove legislators who supported the bill. When asked what exactly made him shift from love for Trump to attacks on him, Musk replied on his social network: “Increasing the deficit from an already insane $2 trillion under Biden to $2.5 trillion. This will lead the country to bankruptcy.”
In response, Trump threatened to cut the billion-dollar subsidies that Musk's companies receive from the federal government, and then even suggested deporting the billionaire from the country.