Donald Trump dismisses 'off the rails' Elon Musk's new political party: 'I think it's ridiculous'

WASHINGTON, DC: President Donald Trump is "saddened" after his former "first buddy" Elon Musk launched his own third party this weekend. 

Speaking to reporters while flying back to DC from his New Jersey golf club, Trump dismissed the idea entirely. “Third parties have never worked, so he can have fun with it, but I think it’s ridiculous,” he scoffed.

Trump then took to Truth Social and criticized Musk.

“I am saddened to watch Elon Musk go completely ‘off the rails,’ essentially becoming a train wreck over the past five weeks,” Trump wrote. “He even wants to start a Third Political Party, despite the fact that they have never succeeded in the United States.”

“The one thing Third Parties are good for is the creation of Complete and Total Disruptions and Chaos," he added. According to Trump, Musk’s big political move is all about payback, specifically over Trump’s decision to kill subsidies for electric vehicles.

Elon Musk’s ‘America Party’ aims to shake up Congress

On July 5, the Tesla and SpaceX boss made it official on X (formerly Twitter) that he’s launching the “America Party” to challenge both Republicans and Democrats.

“By a factor of 2 to 1, you want a new political party and you shall have it!” Musk declared. “Today, the America Party is formed to give you back your freedom.”

Though he didn’t exactly drop a playbook, Musk hinted the party would target “two or three Senate seats” and “eight to 10 House districts.” It’s a bold plan, and one that could shake up Congress, given how narrowly Republicans currently control both chambers.

“Given the razor-thin legislative margins, that would be enough to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people,” Musk claimed.

But all this drama appears to be rooted in a falling-out over Trump’s tax and spending bill. The legislation, which Trump signed into law on July 4, effectively ended tax credits for EV buyers, and that move apparently didn't sit well with Musk.

Donald Trump says Elon Musk’s third-party move is retaliation

Donald Trump isn’t letting Elon Musk rewrite the past either. In a lengthy Truth Social rant, he said Musk knew full well that he planned to axe the EV tax credit, and endorsed him anyway.

“When Elon gave me his total and unquestioned Endorsement, I asked him whether or not he knew that I was going to terminate the EV Mandate , It was in every speech I made, and in every conversation I had. He said he had no problems with that,” Trump wrote.

Trump explained that an “electric vehicle mandate” would have “forced everyone to buy an Electric Car in a short period of time." But now, Trump says, Musk is throwing a fit.

“I think it’s ridiculous to start a third party,” Trump told Reuters on July 6, just a day after Musk’s announcement. “We have a tremendous success with the Republican Party. The Democrats have lost their way, but it’s always been a two-party system, and I think starting a third party just adds to confusion.”

Elon Musk’s political pivot sparks investor concern

Elon Musk is also catching heat from some of his former allies in the business world. James Fishback, CEO of investment firm Invest Azoria, went public with his concerns following Musk's announcement of the America Party.

Fishback revealed that his firm was postponing the launch of its Azoria Tesla Convexity ETF “in direct response” to Musk’s political detour. “This creates a conflict with his full-time responsibilities as CEO of Tesla,” Fishback posted on X, urging Tesla’s board to “rein him in.”

“It diverts his focus and energy away from Tesla’s employees and shareholders,” he added, signaling that investors are starting to get nervous about Musk moonlighting in politics.

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