Musk Establishes "American Party," Tech Giant to Become Political "Key Minority"?

Original Article Title: "Just Do It! Musk Announces Formation of 'American Party' to 'Avoid US Bankruptcy,' Plans to Run Next Year"

Original Article Author: Li Xiaoyin, Wall Street View

Editor's Note: On July 7, Musk stated that supporting a (potential) US presidential candidate is not impossible, but the focus for the next 12 months will be on congressional elections. Although he has shown a very enthusiastic attitude towards running for office, according to his latest tweet, the viral claim that the 'American Party' submitted registration documents to the Federal Election Commission (FEC) is false. This means that Musk has not yet taken any substantive action to establish a new political party.

Musk has officially announced the formation of the 'American Party,' targeting key seats in the 2026 midterm elections. According to CCTV News, on July 5 local time, American entrepreneur Elon Musk posted on social media platform X stating that the 'American Party' was established that day to restore freedom to the people.

This development comes as Musk and Trump had a fierce disagreement over the 'Big Beautiful Law' just before this. On June 30, Musk strongly criticized this law and stated that if the law passed, the 'American Party' would be formed the next day. The law was signed by Trump on July 4.

Hours before the law was signed, Musk conducted an online poll to gauge support for the formation of the 'American Party,' with around 1.249 million netizens participating, 65.4% of whom expressed support. Based on this result, Musk officially announced the formation of the new party on July 5.

This statement directly challenges Trump's authority within the Republican Party and marks the complete rupture of the two politicians' political alliance. Musk also hinted to netizens that the 'American Party' will participate in the 2026 midterm elections, allowing time for fundraising, organizational structure, and candidate selection.

Under the Federal Election Commission regulations, a new political party does not need to formally register with the FEC unless its fundraising or spending exceeds specific thresholds. Analysts point out that with Musk's financial resources, funding will not be a limiting factor. Some netizens speculate that the 'American Party's' political agenda may include reducing debt spending, promoting AI technology development, and relaxing regulations across the board, to which Musk replied, "Exactly!"

Plan to Leverage Minority Key Seats to Influence Congress Decisions

Wall Street News previously mentioned that on the 4th, Musk revealed during a poll with netizens that the initial focus of the "American Party" would be on 2-3 Senate seats and 8-10 House districts, attempting to become a decisive force in Congress through these key seats.

This strategy is very different from the traditional approach of political parties trying to win the majority of seats. Musk's goal is to become a "key minority" in Congress, influencing policy-making by playing a decisive role in crucial votes.

Musk pointed out that in the current Congress where seat distribution is very close, this precise strategy is enough to influence major legislation, ensuring it "truly represents the will of the people."

The Financial Conflict with Trump: Musk's Turning Point

The background to Musk's announcement of forming a new political party is his fierce clash with Trump over fiscal policy. Musk openly criticized the recent $3.3 trillion spending bill signed by Trump, calling it the "Big Beautiful Bill," stating that the bill would worsen the U.S. debt crisis and threatening to fund primary opponents of any congressional member who supports the bill.

Prior to this, Musk had pushed for a $190 billion government spending cut through the DOGE department, but according to analysis by a third-party nonprofit organization, his actions may have also resulted in a $135 billion loss for taxpayers.

Trump, on the other hand, did not back down, openly warning that Musk opposing his agenda would pay a personal price. He posted on his own social media platform, Truth Social, hinting that Musk, without government subsidies, would close his company and return to South Africa, even mentioning that he might "have to unleash Doge on Musk" in retaliation. Trump also told the media that DOGE might be a "monster that has to go back to eat Musk."

This renewed "Tesar" drama highlights the sharp shift in the relationship between the two from cooperation to confrontation and also provides a direct catalyst for the formation of the "American Party."

Original Article Link

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia