Mint Quick Edit: Elon Musk's new ‘America Party' has spotted a gap in US politics
Mint Editorial Board There's space for a fiscally responsible voice and Musk's America Party seems keen to stir a rebellion on the right, but his business interests could get in the way of his political venture. Elon Musk himself can't be president of the US as he was not born there, but the country is arguably in need of a political voice for fiscal responsibility. Gift this article
Billionaire Elon Musk is not about to exit US politics. Over the weekend, he launched the America Party to take on both the Republican and Democratic parties.
Billionaire Elon Musk is not about to exit US politics. Over the weekend, he launched the America Party to take on both the Republican and Democratic parties.
This is what Musk had threatened after his falling-out with Republican US President Donald Trump over the latter's One Big Beautiful Bill, which was passed by American lawmakers despite Musk's fierce objections to the huge overload of public debt it would result in.
Also Read: X factor: The rise and fall of Elon Musk as a political figure
This criticism is valid. Over time, it could lead to the US inflating its debt away, even practising financial repression. It's also true that Musk's own business interests are hurt by the legislation's withdrawal of clean-energy incentives.
Tesla, his electric car company, has been doing poorly even with state support. Musk himself can't be president of the US as he was not born there, but the country is arguably in need of a political voice for fiscal responsibility.
Also Read: Musk's woes: Tesla hit refresh on its EVs but it hasn't worked
The billionaire seems keen to rally Republicans who may privately be alarmed by Trump's governance. Whether he is the ideal leader of such a rebellion on the right is another matter. The wealthy assuming political power is common in America, but Musk's agenda will be under close scrutiny. Topics You May Be Interested In Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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