Elon Musk backs away from America Party plans: But why?

Sources say Musk is turning his focus back to Tesla, SpaceX and his other companies, a move welcomed by investors who have long been wary of his political entanglements.

Musk’s political pivot follows a very public falling-out with President Donald Trump earlier this summer. Once praised as a trusted adviser, Musk quickly became persona non grata at the White House after criticizing Trump’s signature tax-and-spending bill. Musk reportedly opposed provisions that rolled back electric vehicle subsidies, which directly impact Tesla.

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