Billionaire Elon Musk, 2024 Election's Top Donor, Forms 'America Party' Following Trump Feud

Tech billionaire Elon Musk announced the formation of a new political entity, the "America Party," on July 5, 2025, marking a significant shift in his political engagement following a public falling out with former President Donald Trump. The move comes after Musk, a prominent figure in the 2024 election cycle, openly criticized Trump's "big, beautiful bill," a sweeping spending package. This development signals a dramatic end to what many observers had termed the "Trump-Musk bromance."

Musk emerged as the largest individual political donor in the 2024 election, contributing over $288 million, primarily to Trump's campaign and other Republican candidates through his America PAC. His substantial financial backing underscored his growing influence within conservative political circles. This unprecedented spending cemented his status as a key financial force in the recent presidential cycle.

The relationship between Musk and Trump had deepened significantly, with Musk even taking on a role in the Trump administration's "Department of Government Efficiency" (DOGE) to advise on federal spending cuts. However, their alliance deteriorated rapidly in recent weeks due to Musk's vocal opposition to the spending bill, which he argued would exacerbate the national debt. This public disagreement led to a sharp exchange of words between the two, culminating in Musk's decision to launch his own party.

The "America Party" is expected to focus on fiscal conservatism and aims to target specific congressional races in the 2026 midterm elections. Musk indicated that the party would initially concentrate on a few key Senate and House districts, seeking to act as a decisive vote on contentious legislation. However, the official registration and detailed platform of the new party remain largely undefined.

As commentator Tim O'Brien noted in a July 9 tweet, "Musk’s third-party cage rattling won’t amount to much. But if he throws piles of money into races, the mid-terms next year and the’28 election there will be tremors." This sentiment highlights the potential for Musk's continued financial leverage to disrupt future elections, despite his recent claims in May 2025 that he would reduce his political spending after a setback in the Wisconsin Supreme Court race.