Elon Musk launched the "America Party" Saturday, calling for an end to the “uniparty" system after President Donald Trump signed the "big, beautiful bill" into law.

July 7–8, 2025: The first trading day since Musk’s weekend announcement, Tesla shares tumbled, and Musk’s personal fortune dropped by as much as $15 billion, according to the Bloomberg Billionaires Index. As of July 9, it stands at $349 billion with Tesla shares broadly unchanged.

U.S. President Donald Trump has strongly criticized Elon Musk’s announcement to launch a new political party, calling the idea “ridiculous” and “confusing.” Trump Rejects Musk’s Bold Political Move Trump’s comments followed Musk’s announcement that the “America Party” had been formed in response to Trump’s recently passed spending and tax cut measure.

Billionaire Elon Musk indicated Tuesday that releasing files related to convicted sex trafficker Jeffrey Epstein will be a major goal for his third party. President Donald Trump and his administration confirmed Tuesday it had finished its investigation into Epstein,

By Joel Jose (Reuters) -Tesla shares fell nearly 7% in premarket trading on Monday after CEO Elon Musk's plans to launch a new U.S. political party reignited concerns about his commitment to the company's future as it struggles with declining sales.