Elon Musk’s new political party? That’s for the other Republicans to worry about, according to Donald Trump.
The president, during a press conference on Tuesday, did not appear too concerned about the Tesla and SpaceX boss launching his proposed “America Party,” saying, “Third parties are good for me; I don’t know about Republicans, but for me [it’s good].”
That comment came a moment after Trump said he thinks Musk’s new party will “probably help” his fellow Republicans. The president did not expand on how third parties have benefited him in the past or moving forward.
Watch the moment below:
Collins: Elon Musk is now saying he is going to create a third party. Are you worried about the impact that they could have?
Trump: No, I think it will help us. It will probably help. Third parties are good for me, I don’t know about Republicans but for me. pic.twitter.com/k8uS3T7ljp
— Acyn (@Acyn) July 8, 2025
Trump’s Tuesday comments were more subdued than what he said about Musk on Sunday evening, when he said he was “saddened” the former head of the Department of Government Efficiency had gone “off the rails” with his announced plan to fund a third political party.
Tesla’s stock price took a big hit on Monday, dropping 7% and having about $70 billion being slashed from its market cap; Tesla’s stock price rebounded a bit on Tuesday, with shares up 2% to $300.
Musk’s “America Party” ambitions came as he has been highly critical of the Trump-backed “Big Beautiful Bill” over the past month, which he has called “pork-filled” and a “disgusting abomination.”
The budding third party has led to social media users and media talking heads reexamining Ross Perot’s 1992 independent candidacy in recent days.
Perot grabbed 19% of the popular vote — the biggest slice since Teddy Roosevelt received 27% of votes in the 1912 election; it has been debated since then whether Perot tipped the election in favor of Democrat Bill Clinton against incumbent Republican George H.W. Bush, although exit polls showed Perot voters slightly favored Clinton.
Whether Musk can have anywhere near as much of an impact with the America Party in 2026 and 2028 remains to be seen, obviously. But the early signs are not great for Musk. Harry Enten, CNN’s chief data analyst, said on Monday that polls show only 4% of Americans like Musk and dislike the Republican party. Musk’s plan, Enten said, “makes about as much sense as selling sand in the desert.”
