According to The Wall Street Journal, Elon Musk is rethinking the idea of starting a new political party.

Instead, the outlet reports Musk wants to maintain close ties to Vice President J.D. Vance and potentially support him in 2028.

“Elon Musk is reportedly reconsidering his bid to launch a third party and instead put his support behind Vice President JD Vance should he decide to run, per a new report from the WSJ,” Charlie Kirk commented.

“Will have to wait for confirmation from Elon, but this would be very positive news for the country if true,” he added.

Reuters has more:

Musk, the world’s richest man, and his associates have told people close to Vance that the billionaire is considering using some of his financial resources to back Vance if he decides to run for president in 2028, the paper said.

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The CEO of Tesla and SpaceX spent nearly $300 million in 2024 to help Trump and other Republicans get elected, exerting enormous influence in the first few weeks of Trump’s term as head of the newly created efficiency department (DOGE).

Reuters could not immediately verify the Journal report. Tesla and the White House did not immediately respond to a Reuters request for comment outside regular business hours.

Vance recently said he hopes Musk returns to the MAGA movement by the midterm elections.

“I think it’s a mistake for him to try to break from the president. My hope is that by the time of the midterms, he’s kind of come back into the fold,” Vance said.

“If you’re patriotic, you’re not trying to stick your knife in the back of the president, you’re not trying to betray the movement, I don’t care about these minor little disagreements and issues,” he added.

Check it out:

President Trump said J.D. Vance is “most likely” the favorite to secure the 2028 GOP presidential nomination.

WATCH: President Trump Names “Most Likely” Favorite For 2028 GOP Presidential Nominee

Fox News White House correspondent Peter Doocy referenced Secretary of State Marco Rubio saying Vance would be a “great nominee.”

“Do you agree that the heir apparent to MAGA is J.D. Vance?” Doocy asked Trump.

“I think most likely in all fairness,” Trump responded.

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“He’s the vice president. I think Marco is also somebody that maybe would get together with J.D. in some form,” he continued.

“It’s too early, obviously, to talk about it. Certainly, he’s doing a great job, and he would be probably favored at this point,” he added.

Footage below:

Business Insider noted:

Despite Musk's fraught departure from DOGE, his epic feud with President Donald Trump over the "Big Beautiful Bill," and his threat to form a third party that could hurt the GOP's electoral chances, several prominent MAGA figures have begun urging a reconciliation with Musk.

They argue that Musk was crucial to Trump's 2024 victory, and that having the resources of the world's richest man on their side will be crucial in midterm elections that are expected to be tough for the GOP.

An influx of cash from Musk would be a boon for the GOP, which has already had a strong fundraising year. MAGA Inc, a super PAC tied to Trump, raised nearly $177 million in the first 6 months of 2025.

"Musk is the perfect person to be the George Soros of the MAGA Right," wrote the MAGA-aligned political strategist Roger Stone in a Substack post on Monday. "It is time for MAGA to mend fences with Elon Musk for the greater good of saving the country and winning the midterm elections."

Stone's post was later shared by the far-right radio host Alex Jones, who remains influential with much of Trump's base.

 

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